Latest news with #AypaPower
Hamilton Spectator
27-05-2025
- Business
- Hamilton Spectator
Battery energy storage facility approved in Centre Wellington
FERGUS – Centre Wellington is set to become the home of one of Canada's largest battery energy storage systems for 25 years. Following staff recommendations at a Centre Wellington council meeting Monday afternoon, Centre Wellington council has approved a zoning bylaw amendment allowing Aypa Power LLC to construct a Battery Energy Storage System (BESS) facility at 6235 Guelph St., roughly two kilometres south of Fergus. It comes after several months of negotiations and deliberations. The move still needs the approval of the County of Wellington. A BESS is a facility of rechargeable batteries with a limited lifespan that can store energy from different sources or during off-peak hours and feed it back into the grid when electricity demand is highest. Taking up approximately 4.6 hectares of the 43-hectare farm property, the facility is technically temporary since BESS lose storage capacity over time and the lands are planned to be decommissioned and restored in 2052. Planned to generate up to 200 MW or 800 MWh of energy for the county, the facility is anticipated to create 200 to 300 jobs for three years starting this fall and six to eight full-time jobs during operation. In their recommendations, staff said the BESS facility will help contribute to the province's energy supply goals and are confident the concerns raised can be adequately addressed to ensure compatibility and public safety through detailed design and the site plan. Environmental matters would be addressed through a Class Environmental Assessment, which requires extensive studies. 'At the end of the day, we've got to make a decision based on what's good, not only for our community, but what's good for the greater community as well,' said Mayor Shawn Watters. 'And I think this will be an example of how that is done.' Originally on the agenda for the last council meeting, councillors chose to defer the decision so the public could have a chance to see a letter from the Minister of Energy and Mines, Stephen Lecce, who wrote that projects like the Elora BESS project are critical to meeting the province and region's needs this decade. 'If the province cannot address the grid's capacity needs with battery energy storage systems, it will reduce the overall cleanliness of Ontario's electrical grid, while also increasing costs for electricity consumers,' said Lecce's letter. In response to council's concerns about Aypa Power's close association with the American company, Blackstone Inc., Lecce said the project is exempt from new regulations that would restrict American businesses from accessing public sector procurements in Ontario. Restating these concerns during the council meeting, Coun. Jennifer Adams was the sole councillor to oppose the application, saying she's received a lot of concern from area residents and believes the risks outweigh the benefits at this time. 'I believe it is essential that we, as a council, remain independent in our decision-making and not be swayed by corporate influence. We have urgent priorities and we must focus on those,' said Adams. 'There is also a real concern about the safety and environmental impacts of this relatively new technology, including risks like fire, noise and air pollution.' Coun. Denis Craddock disagreed, saying there were safety concerns when the project was first proposed, but feels that the township and Aypa have gone above and beyond to make sure that this is a safe facility in the community. 'I don't think it's the ownership that matters, it's the investment that matters ... I don't think that clean energy should be political,' said Craddock. Council also heard two delegations and received letters from residents sharing opposing views on the proposed facility, with some arguing it's important to participate in projects prioritizing green energy, while others shared several concerns about safety, health, the environment and property values. Justin Bailey, said the proposed facility is located close to his home and he's alarmed at the potential risks a BESS facility poses to the safety and well-being of his young family and the surrounding community. 'This is not merely a 'not in my backyard' sentiment; it is a heartfelt plea from concerned parents who want to ensure that their children grow up in a safe and healthy environment,' said Bailey in a letter. 'We implore Aypa Power to reconsider this project's location and work collaboratively with local residents to identify a safer, more suitable site.' On the other side of the coin, the BESS landowner, Cindy Lindsay, said the project is intended to be temporary and they've worked with Aypa to incorporate soil protection, site remediation and restoration and safety to ensure the land is returned to agricultural production when the lease is up so their family can continue farming the land. 'We feel this project reflects a balance between tradition and innovation, allowing farmers to thoughtfully choose how to use their land and at the same time embracing the changes necessary to build a more sustainable future and hopefully moving the needle and reaching the sustainable development goals,' said Lindsay. Coun. Bronwynne Wilton declared a pecuniary interest and didn't participate in discussions. Isabel Buckmaster is the Local Journalism Initiative reporter for GuelphToday. LJI is a federally-funded program.
Yahoo
13-05-2025
- Business
- Yahoo
Aypa Power secures $535m for hybrid solar and energy storage project in California
Aypa Power, a company within the Blackstone portfolio, has secured $535m in debt financing for a 320MW solar-plus-storage project in San Bernardino County, California, US. The project, known as Vidal, will combine 160MW of solar generation with a 160MW/640 megawatt-hour (MWh) battery energy storage system (BESS), aiming to enhance grid reliability and support California's carbon-free electricity goals. Santander Corporate & Investment Banking played a pivotal role as coordinating lead arranger, mandated lead arranger, green loan coordinator, lender and LC (letter of credit) issuer. US Bank National Association, through its US Bancorp Impact Finance subsidiary, and Zions Bancorporation, N.A. were also involved as mandated lead arrangers and lenders. Siemens Financial Services and Associated Bank, N.A. contributed as managing agents and lenders. Expected to become operational in 2026, the Vidal project will deliver electricity, resource adequacy and renewable energy certificates to San Diego Community Power through a long-term power purchase agreement. The initiative is projected to generate more than $13.5m in local economic benefits and create up to 260 construction jobs in San Bernardino County. Aypa Power chief financial officer Marc Atlas said: '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. 'We appreciate the trust of our lender group as we scale investments to meet California's growing grid reliability needs.' In January, the company also secured $190m for its Bypass BESS project in Fort Bend County, Texas. The 200MW/400MWh facility is designed to meet the storage capacity needs of the region. The financing package for the Texas project included a $68m construction-to-term loan and a $91m tax equity bridge loan, totalling $159m for construction. "Aypa Power secures $535m for hybrid solar and energy storage project in California" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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.
