Aypa Power, a Blackstone portfolio company that builds, owns and operates utility-scale energy storage and hybrid renewable-energy projects, has closed a $650 million corporate credit facility — the largest in the energy storage industry.
The refinanced and upsized facilities now include a $350 million letters of credit facility, a $100 million revolver and a $200 million term loan, replacing the company's existing $320 million facility.
Aypa has been at the forefront of energy storage development since their first energy storage project came online in 2018 and currently has more than 22 gigawatts in development across North America. These enhanced facilities will provide Aypa with the necessary capital to support its ongoing business expansion and advance its project pipeline across the United States and Canada.
“This facility highlights our exceptional performance and the unwavering trust of our financial partners," said Moe Hajabed, CEO of Aypa Power. “
