Austin, Texas-based battery energy storage developer Jupiter Power LLC has announced the closure of a $225 million debt financing agreement aimed at expanding its project portfolio.
The financing package, which includes a revolving credit facility, was secured from a consortium of lenders consisting of Barclays Bank PLC, HSBC Bank USA, and Sumitomo Mitsui Banking Corporation. It comprises up to $175 million in letters of credit and $50 million in revolving loans.
“Securing this corporate credit facility highlights the market's recognition of Jupiter Power as a leader in advancing large-scale energy storage solutions,” stated Jesse Campbell, CFO of Jupiter Power.
Jupiter Power currently has an energy storage development pipeline exceeding 12 GW and operates or has under construction 2,575 MWh of battery energy storage systems. Among its completed projects are the 200-MW/200-MWh Crossett facility and the 200-MW/400-MWh Callisto I facility, both located in Texas.
