Wedoany.com Report on Feb 5th, U.S. utility-scale energy storage and renewable energy developer Aypa Power has recently completed a $1.5 billion revolving credit facility, one of the largest construction financings for an independent power producer focused on energy storage. This credit facility will serve as the primary funding source for Aypa's energy storage project pipeline, supporting the commercial operation of its storage projects by 2028. The financing also includes an additional $500 million in expandable capacity, providing flexibility for future projects.

Backed by Blackstone, Aypa Power develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects across North America. Currently, the company has 30 projects in operation or under construction, with a development pipeline exceeding 22 gigawatts. This $1.5 billion energy storage project financing will accelerate the advancement of its project pipeline.

CIBC's New York branch and Wells Fargo served as the joint lead structuring agents for this financing arrangement. Participants included several domestic and international lending institutions, such as BNP Paribas, ING Capital LLC, Natixis, Desjardins Group from Quebec, and the Industrial and Commercial Bank of China's New York branch, among others. Moe Hajabed, CEO of Aypa Power, stated, "This warehouse arrangement enables us to advance our growing pipeline of utility-scale energy storage projects and continue delivering critical infrastructure that enhances grid reliability in the U.S. market."

As early as May 2025, Aypa had announced an increase in its total corporate credit facility to $1.05 billion. This latest $1.5 billion energy storage project financing further strengthens the company's financial position, supporting its ongoing expansion in the renewable energy sector.