Jupiter Power has secured a $500m green loan facility to accelerate the expansion of its battery energy storage portfolio across the US.
The upsized senior secured revolving loan and letter of credit facility increases the company’s existing facility of $225m, which originally closed in September 2024.
The loan is designed to support the rapid advancement of Jupiter Power’s project pipeline in the country.
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It is available for borrowings or the issuance of letters of credit, enabling Jupiter Power to pursue new utility-scale battery energy storage system (BESS) projects nationwide.
Jupiter Power chief financial officer Jesse Campbell said: “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.
“This additional liquidity launches us into our post-OBBBA [One Big Beautiful Bill Act] 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.”
Barclays Bank, HSBC Bank USA, National Association, ING Capital, SMBC and Société Générale acted as coordinating lead arrangers for the facility.
HSBC Bank USA, National Association also acted as administrative and collateral agents. Kirkland & Ellis served as borrower’s counsel, while Latham & Watkins represented the lenders.
Jupiter Power currently has nearly 8,000 megawatt-hours of battery energy storage projects under construction or contract. Its development pipeline exceeds 12GW across the US, with projects spanning from California to Maine.
HSBC Infrastructure Finance Americas Renewables head Paul Snow said: “HSBC is proud to support Jupiter Power’s continued growth, as this expanded facility reflects both the strength of their platform and our shared commitment to scaling critical energy storage infrastructure and support energy security across the US.”
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