Jupiter Power has closed on $65.2 million in financing for the construction of a 200-megawatt/400-megawatt-hour battery energy storage system in Houston.
Jupiter Power specializes in energy storage infrastructure, with 775 megawatt hours of operating projects, 620 megawatt hours in construction and more than 11,000 megawatts of new projects in development from Maine to California.
First Citizens Bank’s energy finance business provided the financing package to Jupiter Power. First Citizens Energy Finance previously served as the coordinating lead arranger on another transaction with Jupiter Power for a $70.4 million construction and term loan financing facility for two standalone battery energy storage projects in Texas, totaling 160 megawatts/320 megawatt hours.
“Jupiter is excited to have closed financing for this very unique project, which answers the call from the Texas Legislature to build more dispatchable power in ERCOT and near major load centers wher
