BESS Weekly: an investment grade rating lands on Texas storage

Jupiter Power has closed $1.4 billion across four transactions covering 10 projects in Texas and Michigan, totaling 1,500 MW / 3,600 MWh. The package includes senior secured debt, tax equity bridge loans, and a $281 million private placement rated BBB- by KBRA, taking total financings since inception past $3 billion.

GridStor has closed $220 million with ING Capital, KeyBanc, and Zions to complete its 100 MW / 400 MWh White Tank project in Maricopa County, Arizona, entering service in first-half 2027 under a 20-year toll with Arizona Public Service, its fourth close in 12 months against a pipeline above 3 GW backed by Goldman Sachs Asset Management.

Eos Energy Enterprises has drawn $87 million under the second tranche of its U.S. Department of Energy facility, taking total draws to roughly $178 million. Line 2 at its Thorn Hill, Pennsylvania site is ramping toward 2 GWh a year, with the Line 1 relocation lifting the site's total capacity to around 4 GWh.