Latest news with #Aypa
Cision Canada
12-05-2025
- Business
- Cision Canada
Aypa Power Closes $535 Million to Advance California Solar and Energy Storage Hybrid Project
AUSTIN, Texas, May 12, 2025 /CNW/ - Aypa Power, a Blackstone portfolio company and leading developer, owner, and operator of utility-scale energy storage and hybrid renewable energy projects, today announced it has closed $535 million in debt financing to advance a 320-megawatt (MW) solar-plus-storage project in San Bernardino County, California. Santander Corporate & Investment Banking served as Coordinating Lead Arranger, Mandated Lead Arranger, Green Loan Coordinator, Lender, and LC Issuer. U.S. Bank National Association (through its U.S. Bancorp Impact Finance subsidiary) and Zions Bancorporation, N.A. acted as Mandated Lead Arrangers and Lenders. Siemens Financial Services and Associated Bank, N.A. acted as Managing Agents and Lenders. The financing supports Aypa's Vidal project, a hybrid facility combining 160 MW of solar generation with a 160 MW / 640 megawatt-hour (MWh) battery energy storage system (BESS). Once operational, Vidal will provide dispatchable clean energy to bolster grid reliability across California and support the state's goal of achieving 100% carbon-free electricity by 2045. "Closing this large financing for the Vidal project reflects the strong confidence top-tier lenders have in Aypa Power's ability to deliver grid-scale assets that generate compelling, long-term returns," said Marc Atlas, Chief Financial Officer at Aypa Power. "We appreciate the trust of our lender group as we scale investments to meet California's growing grid reliability needs." The Vidal project, slated to come online in 2026, will provide electricity, resource adequacy and renewable energy certificates to San Diego Community Power under a long-term power purchase agreement. The project is expected to generate more than $13.5 million in local economic benefits and create up to 260 construction jobs in San Bernardino County. About Aypa Power Aypa Power, a Blackstone portfolio company, is North America's leading energy storage-focused independent power producer. Aypa develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects across North America. With 35 projects currently in operation or under construction, and a development pipeline exceeding 22 gigawatts, the company delivers solutions that enhance grid reliability and enable the broader integration of renewable energy resources. Since launching its first project in 2018, Aypa has helped establish energy storage as a vital part of the grid and a core infrastructure asset class. For more information, visit or follow Aypa Power on LinkedIn.
Cision Canada
01-05-2025
- Business
- Cision Canada
Aypa Power Closes Upsizing of Existing Credit Facility to $1.05 Billion
AUSTIN, Texas, May 1, 2025 /CNW/ - Aypa Power, a Blackstone portfolio company and leading developer, owner, and operator of utility-scale energy storage and hybrid renewable energy projects, today announced the successful upsizing of its corporate credit facility, originally closed in July 2024. The upsized facility now totals $1.05 billion, comprised of a $300 million Term Loan, $200 million Revolving Credit Facility, and $550 million Letter of Credit Facility. The transaction strengthens Aypa's capital position and supports the continued advancement of its multi-gigawatt development portfolio across key North American markets. "This $400 million upsizing to the existing $650 million facility closed in 2024 reinforces the confidence of the lender community in Aypa's proven execution capabilities and strength to lead in a fast-changing market," said Marc Atlas, Chief Financial Officer at Aypa Power. "With over 22 gigawatts in development, this facility gives us the flexibility to scale with discipline and deliver where the grid needs it most. We appreciate the strong support from both new and existing lenders." About Aypa Power Aypa Power, a Blackstone portfolio company, is North America's leading energy storage-focused independent power producer. Aypa develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects across North America. With 30 projects currently in operation or under construction, and a development pipeline exceeding 22 gigawatts, the company delivers solutions that enhance grid reliability and enable the broader integration of renewable energy resources. Since launching its first project in 2018, Aypa has helped establish energy storage as a vital part of the grid and a core infrastructure asset class. For more information, visit or follow Aypa Power on LinkedIn.
