Norton Rose Fulbright represents Jupiter Power on US$177.8M portfolio debt financing

Global law firm Norton Rose Fulbright represented Jupiter Power LLC on the closing of a US$177.8 million portfolio debt financing for six stand-alone battery storage projects with 650 MWh capacity in Texas.

The first-of-its-kind deal represents mostly uncontracted grid-scale energy storage projects, making it a groundbreaking transaction in stand-alone storage financing. The six projects included in the financing are all stand-alone, front-of-meter battery energy storage systems in Texas and are supported by Jupiter's optimization strategies to maximize revenues.

This deal finances Jupiter Power's 650 MWh storage portfolio, which is among the largest in ERCOT. A leading developer and operator of utility-scale, stand-alone battery energy storage facilities, Jupiter Power has a development pipeline of 12 GW of energy storage projects across the US over the next several years.

Norton Rose Fulbright's deal team included Jim Berger, Deanne Barrow and Mariajose Chavez Zamora. Christine Brozynski, Marian Baldwin Fuerst and Ibrahim Basit provided additional support.