Aypa Power, a Blackstone portfolio company, completes a $650 million financing, replacing a $320 million line of credit. The transaction, led by Apterra Infrastructure Capital LLC, Banco Santander S.A., ING Capital LLC, Nomura Securities International, Inc, Société Générale and Sumitomo Mitsui Banking Corporation, reflects the market’s confidence in Aypa Power’s position as a leader in the energy storage sector.
A new financing structure
The new financing includes a $350 million line of credit, a $100 million revolver and a $200 million term loan.
These funds are intended to support Aypa Power’s continued expansion and advance its portfolio of projects across the United States and Canada.
Aypa Power, with 22 gigawatts of projects in development, construction and operation, is strengthening its ability to provide large-scale energy storage solutions and hybrid renewable energy systems.
Growth prospects
Marc Atlas, CFO of Aypa Power, emphasizes that this financing supports the company’s expansion and strengthens its ability to deploy innovative energy storage solutions and hybrid systems.
The company expects to deliver over 3 gigawatts of storage and clean energy projects in the next 24 months.
This growth is part of a strategy to meet the growing need for sustainable energy solutions in North America.
Moe Hajabed, CEO of Aypa Power, highlights the company’s outstanding performance and the continued confidence of its financial partners.
Since their first project in 2018, Aypa Power has positioned itself as a key player in the development of energy storage solutions.
Role of financial partners
Aypa Power is being advised in this transaction by Kirkland & Ellis LLP as legal counsel and by PEI Global Partners as financial advisor. The lenders are advised by Norton Rose Fulbright US LLP. The main coordinators and arrangers of this financing include Apterra Infrastructure Capital LLC, Banco Santander S.A., ING Capital LLC, Nomura Securities International, Inc, Société Générale and Sumitomo Mitsui Banking Corporation. These institutions play a key leadership role in this transaction, underlining the importance of financial confidence for the development of sustainable energy projects.
Benefits and implications
This $650 million financing will enable Aypa Power to strengthen its project portfolio and accelerate the deployment of new energy storage facilities.
With 22 gigawatts of capacity under development, the company is well placed to meet the North American market’s requirements for energy storage solutions and hybrid energy systems.
Aypa Power’s commitment to the development of sustainable energy solutions is part of a global strategy to reduce dependence on fossil fuels and improve the reliability of the electricity grid.
This financing, backed by leading financial partners, highlights Aypa Power’s position as a market leader and its crucial role in the energy transition.
By focusing on growth and innovation, Aypa Power continues to develop large-scale projects that support the energy sector’s sustainability and reliability objectives.
This funding enables the company to continue its efforts to provide advanced energy storage solutions and make a significant contribution to the fight against climate change.
