Aypa Power, a renewables and energy storage firm supported by Blackstone, has finalized a $650 million corporate credit facility aimed at refinancing an existing line of credit and advancing its project portfolio in the US and Canada.
The new credit arrangement includes a $350 million letter of credit facility, a $100 million revolving credit facility, and a $200 million term loan, replacing the company's previous $320 million facility.
The transaction was led by Apterra Infrastructure Capital LLC, Banco Santander SA, ING Capital LLC, Nomura Securities International Inc, Societe Generale, and Sumitomo Mitsui Banking Corp, serving as coordinating lead arrangers, bookrunners, and green loan coordinators.
CFO Marc Atlas noted, “This facility, backed by a 22 GW pipeline of assets in development, construction, and operations, featuring robust long-term contracted cash flows, enhances our ability to lead the market in deploying battery storage and hybrid renewable energy systems.”
Chief Executive Moe Hajabed added that the new funding will enable Aypa Power to accelerate the development of its pipeline and address a backlog of over 3 GW of battery storage and hybrid clean energy projects scheduled for the next 24 months.
