BlackRock-Backed Jupiter Power Secures $500 Million to Build Battery Storage Across U.S.

BlackRock-Backed Jupiter Power Secures $500 Million for Expanded U.S. Battery Storage Development

Jupiter Power, a Texas-based utility-scale battery energy storage systems (BESS) developer, has secured $500 million in financing to significantly expand its project pipeline across the United States. The funding, announced February 1, 2026, comprises a senior secured green revolving loan and a letter of credit facility, an upsizing of a previously closed $225 million facility in September 2024.

Founded in 2017 and acquired by BlackRock Alternatives in 2022, Jupiter Power currently operates nearly 8,000 MWh of BESS projects – encompassing those in operation, under construction, and under contract. The company’s development pipeline includes over 12,000 MW of projects planned for deployment nationwide.

The financing was arranged by a syndicate of banks including Barclays Bank PLC, HSBC Bank USA, ING Capital LLC, National Association, Societe Generale, and SMBC. According to Jesse Campbell, Jupiter Power’s CFO, “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.”

Paul Snow, Head of Renewables, Americas, HSBC Infrastructure Finance, added, “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.”

The new capital injection will support the procurement of additional BESS systems and the continued advancement of existing projects within Jupiter Power’s robust development pipeline.