Aypa Power, a Blackstone portfolio company and leading developer, owner and operator of utility-scale energy storage and hybrid renewable energy projects, together with Six Nations of the Grand River Development Corporation, have announced the successful close of approximately C$700 million ($516 million) in aggregate financing for the Elora and Hedley Battery Energy Storage System (BESS) projects in Ontario, Canada.
The financing was provided by an eight-bank syndicate of leading international and domestic lenders, led by Canadian Imperial Bank of Commerce (CIBC) as Left Lead Arranger and Sumitomo Mitsui Banking Corporation, Canada Branch as Right Lead Arranger. Coordinating lead arrangers also included Desjardins Group, National Bank of Canada, Royal Bank of Canada (also Administrative Agent) and Societe Generale, together with Industrial and Commercial Bank of China (Canada) and Siemens Financial Services as joint lead arrangers. The financing package comprises constructio
