Aypa Power Closes Upsizing of Existing Credit Facility to $1.05 Billion
Summary
AUSTIN, Texas, May 1, 2025 /CNW/ - Aypa Power, a Blackstone portfolio company and leading developer, owner, and operator of utility-scale energy storage and hybrid renewable energy projects, today announced the successful upsizing of its corporate credit facility, originally closed in July 2024.The upsized facility now totals $1.05 billion, comprised of a $300 million Term Loan, $200 million Revolving Credit Facility, and $550 million Letter of Credit Facility. The transaction strengthens Aypas capital position and supports the continued advancement of its multi-gigawatt development portfolio across key North American markets. "This $400 million upsizing to the existing $650 million facility closed in 2024 reinforces the confidence of the lender community in Aypas proven execution capabilities and strength to lead in a fast-changing market," said Marc Atlas, Chief Financial Officer at Aypa Power. With 30 projects currently in operation or under construction, and a development pipeline exceeding 22 gigawatts, the company delivers solutions that enhance grid reliability and enable the broader integration of renewable energy resources. Since launching its first project in 2018, Aypa has helped establish energy storage as a vital part of the grid and a core infrastructure asset class.