Jupiter Power in Austin, Texas, today announced the closing of $1.4 billion in financing across four separate transactions, supporting two utility-scale battery energy storage system (BESS) projects in Michigan and eight more in Texas.
The two Michigan projects are located in Saline Township, south of Ann Arbor, and Coldwater Township, southeast of Kalamazoo.
“These financings are collectively a testament to the depth and diversity of our capital markets relationships and our execution capabilities,” says Jesse Campbell, CFO of Jupiter Power. “With strong, steady growth, and a deep project pipeline, Jupiter is building one of the most robust energy storage platforms in the country.”
In June, Jupiter Power closed a $281 million senior secured note issuance and Letter of Credit Facility under a U.S. private placement, rated BBB- by Kroll Bond Rating Agency (KBRA), collateralized by three operational BESS projects, two in Texas, and its already-operational Tibbits Energy Storage Facility in Coldwater Township, southeast of Kalamazoo.
AB CarVal and Nuveen served as note purchasers, with Barclays and HSBC Securities INC acting as placement agents.
In May, Jupiter Power closed a $294 million financing package consisting of a construction term loan, tax equity bridge loan, and letter of credit facilities, to support the construction of Grand Basin and Voyager I, a two-project BESS portfolio in Saline Township, south of Ann Arbor. ING Capital and Societe Generale served as lenders.
The facilities are designed to store excess wind and solar energy to prevent blackouts and stabilize the power grid during peak demand.
“ING Capital is glad to back Jupiter Power’s expansion into the MISO market, financing two new Michigan projects that reflect the growing geographic diversity of the battery storage sector,” says Scott Hancock, managing director of renewables and power, Americas, at ING Capital.
The transactions include senior secured project debt, tax equity bridge loans, and an investment-grade U.S. private placement, reflecting continued strong institutional appetite for Jupiter’s differentiated energy storage platform. Closing between April and July 2026, the transactions bring total financings since the company’s inception to more than $3 billion.
Jupiter Power, a stand-alone battery energy storage company since 2017, says it’s one of the oldest, largest and fastest growing in the country. The company currently has 5.6 GW / 19.7 GWh of projects operating, in construction or under contract — and an additional 23 GW of projects in development across all major U.S. power markets.
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