AUSTIN – Austin-based energy storage company Jupiter Power LLC has locked in a $70.4 million financing deal for two standalone battery energy storage projects in Texas.
The deal was arranged by First Citizens Bank, and BankUnited NA and Siemens Financial Services were joint lead arrangers.
The projects are expected to have a capacity totaling 160 megawatts. That adds to the company’s more than 11,000 megawatts of new projects in development nationwide.
“Energy storage has become increasingly important for strengthening grid reliability and meeting the growing demand for firm power arising from the energy transition,” stated Andy Bowman, Jupiter CEO.
The locations of the battery projects were not disclosed.