Jupiter Power Secures $225 Million Corporate Credit Facility to Accelerate Energy Storage Growth [Yahoo! Finance]
HSBC Holdings, plc. (HSBC)
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Source: Yahoo! Finance
storage systems, announced today the successful close of a $225 million corporate credit facility. The transaction strengthens Jupiter Power's ability to advance its expanding U.S. portfolio, which includes one of the nation's largest energy storage development pipelines, totaling over 12,000 MW. The $225 million in total revolving credit facilities includes up to $175 million in letters of credit and $50 million in revolving loans. Barclays Bank PLC, HSBC Bank USA , and Sumitomo Mitsui Banking Corporation led the transaction on the lender side, serving as Coordinating Lead Arrangers. Kirkland & Ellis acted as borrower's counsel and Latham & Watkins as lenders' counsel. "Securing this corporate credit facility highlights the market's recognition of Jupiter Power as a leader in advancing large-scale energy storage solutions, as evidenced by our 2,575 MWh of battery energy storage systems already in operation or construction," said Jesse Campbell , Chief Financial Officer of Jupiter
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