U.S.-based energy storage developer Jupiter Power has secured $500 million in new financing to advance its nationwide pipeline of utility-scale battery energy storage systems, reinforcing the growing role of storage infrastructure in grid stability and energy security.

Founded in 2017 and headquartered in Texas, Jupiter Power develops and operates large-scale battery energy storage systems across key U.S. power markets. The company currently has close to 8,000 megawatt-hours of projects operating, under construction, or contracted, alongside a development pipeline exceeding 12,000 megawatts. Jupiter Power has been owned by BlackRock Alternatives since its acquisition in 2022, placing it within one of the world’s largest infrastructure investment platforms.

Expanded Credit Facility Signals Lender Confidence

The latest financing takes the form of a senior secured green revolving loan and letter of credit facility, expanding a $225 million facility that closed in September 2024. The upsized structure significantly increases Jupiter Power’s available liquidity as multiple projects move toward construction and procurement.

The transaction was arranged by a syndicate of major global banks, including Barclays, HSBC, ING, Société Générale, and SMBC, reflecting strong lender appetite for contracted energy storage assets.

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Storage Moves Deeper Into Core Grid Infrastructure

Jupiter Power’s Chief Financial Officer Jesse Campbell said the expanded facility highlights growing confidence in the company’s platform and project execution capabilities. He noted that the additional capital will support new battery procurements while enabling several projects to progress into construction and accelerating advancement across the broader development pipeline.

Battery energy storage is increasingly viewed as essential grid infrastructure rather than a supplemental technology. As renewable penetration rises and power markets contend with volatility, storage assets with long-term contracted revenues are becoming central to system reliability, peak management, and energy arbitrage.

Energy Security and the Investment Case for Storage

From a financing perspective, the structure of the facility underscores how energy storage has matured into an investable asset class with predictable cash flows. For lenders and infrastructure investors, contracted BESS projects offer exposure to the energy transition while supporting near-term grid resilience.

Paul Snow, Head of Renewables for the Americas at HSBC Infrastructure Finance, emphasized that the expanded facility reflects both the strength of Jupiter Power’s platform and a shared focus on scaling storage infrastructure to support U.S. energy security.

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Strategic Implications for the U.S. Power System

The financing comes as U.S. power markets face rising demand from electrification, data centers, and extreme weather events. Battery storage is increasingly deployed alongside renewable generation to smooth intermittency and alongside conventional assets to manage congestion and reliability risks.

For policymakers and institutional investors, Jupiter Power’s capital raise illustrates how private infrastructure finance is stepping in to fund the next phase of grid modernization. As storage deployment accelerates, access to large-scale, flexible financing structures is likely to remain a key differentiator for developers seeking to move projects from development into operation at speed.

The $500 million facility positions Jupiter Power to play a larger role in shaping the U.S. storage landscape, at a time when batteries are becoming integral to how electricity systems balance decarbonisation goals with reliability and affordability.

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