The Daily Dig
Jupiter Power closed $1.4 billion in financing across four separate transactions to support ten utility-scale battery energy storage projects in Texas and Michigan. Combined, the projects total 1,500 MW and 3,600 MWh of capacity.
The deals closed between April and July 2026. That run pushes the company's total financing raised since its founding past $3 billion.
The financing mix is worth a second look: senior secured project debt, tax equity bridge loans, and an investment grade U.S. private placement, spread across the four deals.
Big Batteries, Bigger Checks
The largest piece closed in July, a $536 million senior secured facility funding three Texas projects: Tidwell Prairie II, Bee Branch, and Barton Branch. HSBC Bank US, N.A. and SMBC served as lenders on that deal.
June brought a $281 million senior secured note issuance, rated BBB minus by Kroll Bond Rating Agency. That one is collateralized by three projects already operating: Tidwell Prairie I and St. Gall II in Texas, and Tibbits in Michigan. AB CarVal and Nuveen bought the notes, with Barclays and HSBC Securities acting as placement agents.
May's package totaled $294 million, backing Grand Basin and Voyager I, a two project portfolio in Michigan interconnecting into the MISO market. "ING Capital is glad to back Jupiter Power's expansion into the MISO market..." said Scott Hancock, Managing Director, Renewables & Power, Americas at ING Capital, which served as a lender on the deal alongside Societe Generale.
April's financing came in at $258 million, funding two Harris County, Texas projects, Callisto II and Pamela Heights I. Societe Generale and MUFG served as Coordinating Lead Arrangers.
Jupiter Power's CFO Jesse Campbell put the run of deals plainly: "With strong, steady growth and a deep project pipeline, Jupiter is building one of the most robust energy storage platforms in the country."
Snapshot:
Company: Jupiter Power LLC
Total Financing (This Announcement): $1.4 billion across four transactions
Total Financing Since Inception: More than $3 billion
Projects Financed: 10 utility-scale BESS projects
Combined Capacity: 1,500 MW / 3,600 MWh
States: Texas, Michigan
Financing Closing Window: April 2026 to July 2026
Current Operating/In-Construction/Under Contract Portfolio: 5.6 GW / 19.7 GWh
Additional Development Pipeline: More than 23,000 MW across all major U.S. power markets
Offices: Austin, Texas; Houston, Texas; Chicago, Illinois
Operating Since: 2017
July Financing: $536 million senior secured facility (Construction Term Loan, Tax Equity Bridge Loan, Letter of Credit Facilities)
July Projects: Tidwell Prairie II, Bee Branch, Barton Branch (Texas)
July Lenders: HSBC Bank US, N.A.; SMBC
June Financing: $281 million senior secured note issuance and Letter of Credit Facility, U.S. private placement
June Rating: BBB minus (Kroll Bond Rating Agency)
June Collateral Projects: Tidwell Prairie I, St. Gall II (Texas); Tibbits (Michigan), all operational
June Note Purchasers: AB CarVal, Nuveen
June Placement Agents: Barclays, HSBC Securities Inc.
May Financing: $294 million (Construction Term Loan, Tax Equity Bridge Loan, Letter of Credit Facilities)
May Projects: Grand Basin, Voyager I (Michigan, MISO market)
May Lenders: ING Capital, Societe Generale
April Financing: $258 million senior secured facility (Construction Term Loan, Tax Equity Bridge Loan, Letter of Credit Facilities)
April Projects: Callisto II, Pamela Heights I (Harris County, Texas)
April Coordinating Lead Arrangers: Societe Generale, MUFG
TheJobWalk Thoughts
Four financings in four months signals strong lender confidence in Jupiter's pipeline. Three of the ten collateral projects are already operating, so part of this raise refinances proven assets rather than funding new builds. That's a well-capitalized client, not necessarily a wave of simultaneous mobilizations.
The Grand Basin and Voyager I financing interconnects into MISO, but Jupiter already operates Tibbits in Michigan, so this is expansion in a market they know, not a cold entry. Mixing operating assets, construction loans, and a private placement in one push shows a company managing every project stage at once.
🥾Want to advertise in TheJobWalk? Learn More🥾
