Jupiter Power, a utility-scale energy storage project developer and operator, has secured a $500 million senior-secured green revolving loan and letter of credit facility.
Barclays Bank, HSBC Bank USA, ING Capital, National Association, Société Générale, and SMBC acted as Coordinating Lead Arrangers. HSBC Bank USA, National Association, also served as administrative agent and collateral agent. Kirkland & Ellis acted as borrower’s counsel, and Latham & Watkins acted as lenders’ counsel.
The facility represents a $275 million upsizing of its previously announced $225 million corporate credit facility, originally closed in 2024. The facility includes up to $175 million in letters of credit and $50 million in revolving loans.
According to the company, this facility provides capital for borrowings or the issuance of letters of credit to support the development of its energy storage project pipeline across the U.S.
“This upsizing represents another big step in Jupiter Power’s growth and underscores the confidence our banking partners have in our ability to continue delivering high-quality BESS projects with long-term contracted cash flows,” said Jesse Campbell, the company’s chief financial officer. “This additional liquidity launches us into our post-OBBBA growth phase, supporting not just the major new domestic BESS procurement recently closed but also numerous projects proceeding into construction and major advancement of our development pipeline.”
The company states that it currently has nearly 8,000 MWh of battery energy storage projects operating, under construction, or under contract, with a nationwide development pipeline exceeding 12 GW.
According to Mercom’s Annual and Q4 2025 Funding and M&A for Energy Storage report, announced debt and public market financing for Energy Storage companies in 2025 decreased 30% YoY, with $11.4 billion in 44 deals compared to $16.2 billion in 32 deals in 2024. Despite raising less capital, deal activity increased 38% YoY.
In November, NineDot Energy, a community-scale battery energy storage systems developer, closed a $175 million revolving debt facility with Deutsche Bank. The financing will support NineDot’s full development cycle, from grid interconnection deposits to equipment procurement and project construction.
