Aypa Power has closed a $1.5 billion construction warehouse facility, with an extra $0.5 billion accordion option
It will be Aypa Power’s main funding source for its energy storage projects to achieve commercial operation by 2028
Aypa has 30 projects operating or under construction and a development pipeline of more than 22 GW across North America
Aypa Power, a US-based utility-scale energy storage and renewables developer, has closed what it terms as the ‘largest’ construction warehouse revolving credit facility executed for a storage-focused independent power producer (IPP).
The $1.5 billion facility will serve as the primary source of funding for Aypa’s energy storage project pipeline, supporting their commercial operation by 2028. The financing includes an additional $0.5 billion accordion feature.
Backed by Blackstone, the company develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects across North America. It currently has 30 projects either in operation or under construction and a development pipeline exceeding 22 GW.
Canadian Imperial Bank of Commerce, New York Branch, and Wells Fargo acted as lead structuring agents for this financing facility, which includes national and international lenders, including BNP Paribas, ING Capital LLC, Natixis, Fédération des Caisses Desjardins du Québec, and Industrial and Commercial Bank of China Limited, New York Branch, among others.
“The warehouse facility positions us to advance a growing pipeline of utility-scale energy storage projects and continue delivering critical infrastructure that strengthens grid reliability across U.S. markets,” said Aypa Power CEO Moe Hajabed.
Back in May 2025, Aypa announced upsizing of its corporate credit facility totaling $1.05 billion which originally closed in July 2024.