Jupiter Power, a leading developer and operator of utility-scale battery energy storage systems (BESS), closed a $500 million senior secured Green Revolving Loan and Letter of Credit Facility (the "Facility"), upsizing the company's existing $225 million facility originally closed in September 2024. The Facility provides flexible capital available for borrowings or the issuance of letters of credit to support the rapid advancement of Jupiter's project pipeline across the United States. 

Barclays Bank PLC, HSBC Bank USA, ING Capital, Societe Generale and SMBC acted as Coordinating Lead Arrangers. HSBC Bank USA, also served as Administrative Agent and Collateral Agent. Kirkland & Ellis acted as borrower's counsel and Latham & Watkins as lenders' counsel.

"This upsizing represents another big step in Jupiter Power's growth and underscores the confidence our banking partners have in our ability to continue delivering high-quality BESS projects with long-term contracted cash flows," said Jesse Campbell, the company's Chief Financial Officer. "This additional liquidity launches us into our post-OBBBA growth phase, supporting not just the major new domestic BESS procurement recently closed but also numerous projects proceeding into construction and major advancement of our development pipeline."

Jupiter Power currently has nearly 8,000 MWh of battery energy storage projects operating, under construction or under contract, with a development pipeline exceeding 12 GW nationwide.

"HSBC is proud to support Jupiter Power's continued growth, as this expanded facility reflects both the strength of their platform and our shared commitment to scaling critical energy storage infrastructure and support energy security across the United States," said Paul Snow, Head of Renewables, Americas, HSBC Infrastructure Finance.

"Energy storage is a critical component of the continued enhancement of grid infrastructure, and Jupiter Power has demonstrated their leadership in this sector. We are proud to partner with the company as they accelerate their build-out," said Paul Jun, Group Head, Power & New Energies North America at SMBC.