First Citizens Bank Grants $65.2m To Jupiter Power For Energy Storage Project

First Citizens Bank's Energy Finance business and Jupiter Power LLC have closed a $65.2 million financing deal for the construction of a 200 MW / 400 MWh battery energy storage system in Houston, Texas. Jupiter Power, based in Austin, Texas, and Chicago, Illinois, is a leading player in energy storage infrastructure with 775 MWh of operating projects, 620 MWh in construction, and over 11,000 MW in development across the U.S. The project responds to Texas Legislature's call for more dispatchable power in ERCOT, strategically located near major load centers. First Citizens Energy Finance, having previously financed two standalone battery projects with Jupiter Power, served as the Coordinating Lead Arranger for this financing. Jupiter Power's CEO, Andrew Bowman, highlighted the significance of the project, and Mike Lorusso, Managing Director at First Citizens Energy Finance, emphasized their commitment to supporting Jupiter's battery energy storage initiatives.

More Information : https://www.techdogs.com/tech-news/pr-newswire/first-citizens-bank-provides-652-million-to-jupiter-power-for-standalone-battery-energy-storage-project-financing