Jupiter Power has closed $1.4 billion across four financing transactions to support 10 utility-scale battery energy storage projects totaling 1,500 MW / 3,600 MWh in Texas and Michigan.
The transactions, which closed between April and July 2026, include senior secured project debt, tax equity bridge loans and an investment-grade U.S. private placement.
The latest financing brings Jupiter Power’s cumulative financings since its founding in 2017 to more than $3 billion.
The company currently has 5.6 GW / 19.7 GWh of battery storage projects operating, under construction or under contract. It also has another 23 GW of projects in development across major U.S. power markets.
The financing activity comes as developers continue expanding battery storage to provide flexibility and grid support as electricity demand and generation patterns change across U.S. power markets.
$536M facility funds three Texas BESS projects
Jupiter Power closed its largest project financing to date in July, securing a $536 million senior secured facility.
The facility includes a Construction Term Loan, Tax Equity Bridge Loan and Letter of Credit Facilities.
The financing will support construction of Tidwell Prairie II, Bee Branch and Barton Branch, three battery storage projects in Texas.
HSBC Bank USA and SMBC served as lenders.
The July transaction is the largest of the four financing closings announced by Jupiter Power and provides construction capital for three additional projects in the Texas market.
$294M financing expands Michigan portfolio
In May, Jupiter Power closed a $294 million financing package for Grand Basin and Voyager I in Michigan.
The package includes a Construction Term Loan, Tax Equity Bridge Loan and Letter of Credit Facilities.
The two projects are interconnected within the MISO electricity market.
ING Capital and Société Générale served as lenders.
The financing represents an expansion of Jupiter Power’s activity beyond Texas and into the MISO market, one of the major U.S. electricity markets covering much of the Midwest.
ING Capital said the financing supports Jupiter Power’s expansion into MISO through the two Michigan projects.
Operating BESS assets secure $281M private placement
Jupiter Power completed another significant transaction in June, closing a $281 million senior secured note issuance and Letter of Credit Facility through a U.S. private placement.
The notes received a BBB- investment-grade rating from Kroll Bond Rating Agency (KBRA).
Unlike the construction facilities supporting projects still being built, the private placement is collateralized by three operational battery storage projects: Tidwell Prairie I and St. Gall II in Texas, and Tibbits in Michigan.
AB CarVal and Nuveen served as note purchasers, while Barclays and HSBC Securities acted as placement agents.
The structure provides a financing route backed by operating storage assets rather than solely by future project development.
$258M facility supports Harris County projects
The first of the four 2026 transactions closed in April.
Jupiter Power secured a $258 million senior secured facility to finance the development and construction of Callisto II and Pamela Heights I in Harris County, Texas.
The package consists of a Construction Term Loan, Tax Equity Bridge Loan and Letter of Credit Facilities.
Société Générale and MUFG served as Coordinating Lead Arrangers.
The April financing started a sequence of four transactions that ultimately brought $1.4 billion of new capital to Jupiter Power’s storage portfolio.
Also, Texas is seeing investment in different forms of power infrastructure as electricity demand rises. Jupiter Power is expanding battery storage capacity in the state, while Blue Energy is developing a gas-to-nuclear project designed to serve a nearby data center. The developments illustrate how storage, natural gas and nuclear generation are being considered to support large and growing electricity loads in Texas.
Financing spans debt, tax equity and institutional capital
The four transactions use several forms of financing rather than relying on a single source of capital.
Construction loans provide funding for projects moving toward construction, while tax equity bridge facilities support the financing structure associated with the projects.
The June private placement adds institutional debt backed by operating assets.
Together, the transactions brought in capital from HSBC, SMBC, ING Capital, Société Générale, MUFG, AB CarVal and Nuveen.
Jupiter Power also entered 2026 with an expanded corporate financing facility. In January, the company increased its corporate credit facility to $500 million, consisting of a green revolving loan and letter-of-credit facility.
The combination of corporate liquidity and project-level financing gives the company multiple sources of capital as projects progress through development and construction.
Michigan expansion comes as MISO faces growing interconnection demand
Jupiter Power’s expansion into Michigan comes as the MISO market manages increasing demand for new generation and transmission-connected resources.
MISO’s Expedited Resource Addition Study program is also processing new projects seeking faster interconnection. The fifth ERAS cycle opened with 15 projects representing 7.3 GW of proposed capacity.
At the same time, MISO has been developing new reliability requirements for large computational loads, including data centers, as large electricity consumers seek connections to the grid.
These changes create a market environment in which storage can provide flexibility alongside conventional and renewable generation.
Jupiter Power’s Grand Basin and Voyager I projects give the company a growing presence in that market while its larger portfolio remains concentrated across several major U.S. power markets.
Jupiter Power builds larger U.S. storage pipeline
The latest financings add 1.5 GW / 3.6 GWh of projects to Jupiter Power’s financed portfolio.
They also demonstrate the progression of its assets through different stages of development, from construction-stage projects in Texas and Michigan to operating facilities supporting an investment-grade private placement.
Jupiter Power said the transactions reflect the depth of its capital-markets relationships and its ability to execute multiple financings.
The company now has 5.6 GW / 19.7 GWh of projects operating, under construction or under contract, alongside a further 23 GW development pipeline.
With more than $3 billion in cumulative financing since 2017, Jupiter Power is continuing to use project debt, institutional investment and other financing structures to advance utility-scale battery storage across U.S. electricity markets.
Project Factsheet: Jupiter Power Battery energy storage projects in Texas and Michigan
Developer: Jupiter Power
Sector: Battery energy storage
Latest financing: $1.4 billion
Financed capacity: 1,500 MW / 3,600 MWh
Projects: 10
States: Texas and Michigan
Total Jupiter financings since 2017: More than $3 billion
Operating/construction/contracted portfolio: 5.6 GW / 19.7 GWh
Development pipeline: 23 GW
Largest 2026 financing: $536 million
Largest financing projects: Tidwell Prairie II, Bee Branch and Barton Branch
Michigan projects: Grand Basin and Voyager I
Harris County projects: Callisto II and Pamela Heights I
Private placement assets: Tidwell Prairie I, St. Gall II and Tibbits
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