Tibbits BESS (Michigan) + Tidwell Prairie BESS (Texas) — 300 MW / 800 MWh total, two standalone BESS
Construction loans, tax equity bridge loans, LC facility. Tibbits: Michigan's first utility-scale BESS under 20-year PPA with Consumers Energy. Tidwell Prairie: long-term tolling agreement. COD expected 2025. Jupiter backed by BlackRock Diversified Infrastructure; developing ~12 GW pipeline.
$286M
Deal Value
300MW
Capacity
800MWh
Storage
BESS
Technology
MI, TX
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Jupiter Power (BlackRock)
- Buyer / Financier
- Barclays Bank PLC, HSBC Bank USA
- Offtaker
- Consumers Energy (Tibbits — 20-year PPA), Undisclosed (Tidwell Prairie — long-term tolling)
- Deal Value
- $286M
- Stage
- Under Construction
- ISO/RTO
- ERCOT, MISO
- Source
- Jupiter Power
Capital Structure
$286M
Total transaction value
Tranches
- Construction loan · Barclays Bank PLC / HSBC Bank USA (coordinating lead arrangers)
- —
- Tax equity bridge loan · Barclays Bank PLC / HSBC Bank USA (coordinating lead arrangers)
- —
- Letter of credit facility · Barclays Bank PLC / HSBC Bank USA (coordinating lead arrangers)
- —
Service Providers
Advisory & Legal
- borrowerCounsel
- Simpson Thacher & Bartlett LLP
- Lender Counsel
- Latham & Watkins LLP
Finance Counterparties
Lenders & Capital Providers
- coordinatingLeadArrangers
- Barclays Bank PLC; HSBC Bank USA
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