Thursday, 17 September 2026

Jupiter Power has raised $1.4 billion in project financing tied to ten utility-scale battery projects with a combined 1.5 GW and 3.6 GWh of capacity in Texas and Michigan, ESS News reported. The developer's lifetime capital raised now exceeds $3 billion.

The largest tranche closed in July 2026: a $536 million senior secured package from HSBC Bank USA and SMBC, bundling a construction term loan, a tax equity bridge loan and letter-of-credit lines for the Tidwell Prairie II, Bee Branch and Barton Branch sites in Texas.

A month before, the company priced a $281 million private placement carrying a BBB- rating from KBRA, with AB CarVal and Nuveen taking the notes. The paper is backed by three operating assets: Tidwell Prairie I and St. Gall II in Texas alongside Tibbits in Michigan.

May 2026 brought a $294 million package from ING Capital and Societe Generale for the Grand Basin and Voyager I builds in Michigan, both wired into MISO. The sequence began in April 2026 with a $258 million senior facility led by Societe Generale and MUFG behind Callisto II and Pamela Heights I in Harris County, Texas.

The State Electricity Commission (SEC) of Victoria, Australia, will invest AUD 43 million to take a stake in the 400 MW/1.86 GWh Baranduda battery storage project, paired with a 15-year offtake agreement, according to ESS News.

ESS News reports the battery will be built as four independent 100 MW units and is expected to enter operation in late 2028. Construction is scheduled to start in November 2026.

The offtake will feed the SEC's commercial retail portfolio and supply renewable electricity to Victorian hospitals, schools and government infrastructure, per ESS News.

German battery storage supplier RCT Power GmbH has entered provisional insolvency proceedings, according to a notice from the Freiburg District Court cited by ESS News.

ESS News reports that the insolvency application was filed by Managing Director Pei-Fen Hsiso. Per the court notice, the company can no longer access its bank accounts or outstanding receivables. Administrative and disposal authority has been transferred to the provisional insolvency administrator.

Spain and Portugal have inaugurated a new 400 kV electricity interconnection linking Pontevedra and Viana do Castelo, according to Red Electrica.

The link raises cross-border exchange capacity between the two countries by roughly 1,000 MW, Red Electrica said.

The Spanish grid operator estimates the interconnection will enable an additional 281 GWh of renewable energy to be integrated each year, with a corresponding reduction in CO2 emissions of 113,000 tonnes annually.

Three battery energy storage systems have been inaugurated in Bridgewater, Waverley and White Rock in Nova Scotia, Canada, each rated at 50 MW/200 MWh, according to Natural Resources Canada.

Natural Resources Canada said the Government of Canada put $109 million into pre-development work, installation and grid modernization upgrades tied to the facilities, framing them as support for Nova Scotia's shift away from coal-fired electricity toward renewable generation. The project also drew a $138.2 million loan from the Canada Infrastructure Bank.

The three sites were unveiled alongside Nova Scotia Power, the Canada Infrastructure Bank and the Wskijinu'k Mtmo'taqnuow Agency.

Natural Resources Canada said the projects are expected to cut greenhouse gas emissions by approximately 90,000 tonnes per year, prioritizing non-emitting energy for storage and supporting the integration of renewable generation including wind.