Power storage firm Jupiter Energy introduced that it has secured $500 million in financing, supporting the development of its venture pipeline throughout the U.S.
Based in 2017, Texas-based Jupiter Energy develops and operates utility-scale battery vitality storage techniques (BESS), with almost 8,000 MWh of battery vitality storage tasks working, below development or below contract, and a growth pipeline together with greater than 12,000 MW of tasks throughout the U.S. The corporate was acquired by BlackRock Options in 2022.
The brand new $500 million Senior Secured Inexperienced Revolving Mortgage and Letter of Credit score Facility upsizes a $225 million facility closed in September 2024. The financing was organized by Barclays Financial institution PLC, HSBC Financial institution USA, ING Capital LLC, Nationwide Affiliation, Societe Generale and SMBC.
Jesse Campbell, Jupiter Energy’s, CFO stated:
“This upsizing represents one other massive step in Jupiter Energy’s progress and underscores the boldness our banking companions have in our capability to proceed delivering high-quality BESS tasks with long-term contracted money flows.
Campbell added that the brand new liquidity will help new BESS procurement, along with ”quite a few tasks continuing into development and main development of our growth pipeline.”
Paul Snow, Head of Renewables, Americas, HSBC Infrastructure Finance, stated:
“HSBC is proud to help Jupiter Energy’s continued progress, as this expanded facility displays each the energy of their platform and our shared dedication to scaling essential vitality storage infrastructure and help vitality safety throughout the US.”
