Aypa Power Secures $1.5B Facility for Energy Storage

Aypa Power, a Blackstone portfolio company focused on utility-scale energy storage, has secured a $1.5 billion construction warehouse revolving credit facility. This substantial financing, led by CIBC and Wells Fargo, will serve as Aypa Power's primary funding source for energy storage projects expected to reach commercial operation by 2028. The facility underscores the growing demand for flexible capital solutions to support the development and deployment of energy storage assets, which are critical for grid stabilization and the integration of intermittent renewable energy sources. The involvement of a large syndicate of lenders highlights the increasing appetite from financial institutions to invest in the energy storage sector. The deal is notable for its size, the involvement of a major private equity firm (Blackstone) and a consortium of prominent lenders, signaling strong confidence in Aypa Power's business model and the overall energy storage market. The facility will enable Aypa Power to advance its significant development pipeline exceeding 22 GW, further solidifying its position as a leading player in the North American energy storage market. This financing structure, a warehouse facility, is particularly well-suited for companies with a portfolio of projects in various stages of development, allowing for efficient capital deployment and recycling.