Financing secured for 200 MW/400 MWh battery energy storage system in Houston

First Citizens Bank and Jupiter Power have closed US$65.2 million in financing for the 200 MW/400 MWh battery energy storage system in Houston, Texas, USA.

Headquartered in Austin, Texas, and Chicago, Illinois, Jupiter Power specializes in energy storage infrastructure. The company currently has 775 MWh of operational projects, 620 MWh under construction, and over 11,000 MW of new projects in development across the United States from Maine to California. Apart from this funding, First Citizens Energy Finance played a key role as the Coordinating Lead Arranger in a prior transaction, providing a US$70.4 million construction and term loan financing facility for two independent battery energy storage projects in Texas, totaling 160 MW/320 MWh.