Aypa Power Closes Upsizing of Existing Credit Facility to $1.05 Billion
AUSTIN, Texas, May 1, 2025 /PRNewswire/ - 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 Aypa's 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 Aypa's proven execution capabilities and strength to lead in a fast-changing market," said Marc Atlas, Chief Financial Officer at Aypa Power. "With over 22 gigawatts in development, this facility gives us the flexibility to scale with discipline and deliver where the grid needs it most. We appreciate the strong support from both new and existing lenders."
About Aypa Power
Aypa Power, a Blackstone portfolio company, is North America's leading energy storage-focused independent power producer. Aypa develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects across North America. 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. For more information, visit www.aypa.com or follow Aypa Power on LinkedIn.
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SOURCE Aypa Power