Jupiter Power lands $1.4B in debt to build out battery storage
What's the deal? Jupiter PowerDealroom has a profile for this one. Try Dealroom → has closed $1.4 billion in financing to fund ten utility-scale battery energy storage projects in Texas and Michigan. The debt, raised across multiple transactions between April and July 2026, backs projects totalling 1,500MW and 3,600MWh of capacity.
By the numbers: The financing ranks among the largest debt rounds ever recorded in US energy, landing in the top 3% of comparable deals. It brings Jupiter Power's total raised to more than $3 billion since the company was founded in 2017.
Who's backing it? Lenders and partners span HSBC, SMBCDealroom has a profile for this one. Try Dealroom →, AB CarValDealroom has a profile for this one. Try Dealroom →, NuveenDealroom has a profile for this one. Try Dealroom →, Barclays, Societe Generale, and MUFGDealroom has a profile for this one. Try Dealroom →. The largest single deal — a $536 million package in July 2026 — funds three new Texas projects and marks Jupiter Power's biggest project financing to date.
The details: Other transactions included a $281 million senior secured note issuance rated BBB- by Kroll Bond Rating Agency, backed by operational projects in Texas and Michigan. A separate $294 million package in May funds two Michigan projects, while a $258 million financing in April supports two more in Texas.
What's the endgame? Jupiter Power operates 5.6GW of projects online, under construction, or contracted, with a further 23GW in development nationwide. The Austin-based company builds and runs grid-scale storage from California to Maine.
In their words: "These financings are a testament to our strong relationships with capital markets and our ability to execute effectively," said chief financial officer Jesse Campbell. HSBC's head of renewables, Paul Snow, pointed to the role storage plays in "grid resilience and stability."
The signal: A $1.4 billion debt haul underscores how battery storage has matured from a bet into an infrastructure asset that draws mainstream project finance. As renewables strain grids, lenders are increasingly treating storage as the stabilising layer that makes the whole system work.
Read more: third-news.com
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