Texas-based Jupiter Power has successfully closed $286 million in project financing to support the construction of two standalone battery energy storage systems including one in Coldwater Township, southeast of Kalamazoo. The other is in Texas.
The Coldwater Tibbits project is a joint project between Jupiter Power and Consumers Energy in Jackson. The $110 million project was approved last June by Coldwater Township and includes four rows of 40 shipping container-sized batteries on approximately seven acres off North Michigan Avenue and State Road in Coldwater Township.
“This financing enables Jupiter Power to add these two pivotal new projects to our operational fleet, which will total nearly 2,200 MWh upon their completion,” says Jesse Campbell, chief financial officer of Jupiter Power. “Building on the momentum of our successful $225 million corporate credit facility completed last fall, Jupiter Power was proud to partner with HSBC and Barclays on another significant financing transaction.”
In 2024, Jupiter Power entered a 20-year power purchase agreement with Consumers Energy for its Tibbits project, which the companies say is on track to be the first operational utility-scale battery energy storage system in Michigan.
For more information, visit jupiterpower.io.
