Aypa Power Closes $1.5 Billion Construction Warehouse Revolving Credit Facility to Fund Completion of Energy Storage Projects Through 2028

Stoel Rives is pleased to have represented Aypa Power in closing a $1.5 billion construction warehouse revolving credit facility, with a further $500 million accordion feature, which represents the largest warehouse financing to date for an independent power producer focused on energy storage. The credit facility will serve as Aypa Power’s main source of funding for its pipeline of projects through 2028.

A Blackstone portfolio company, Aypa Power develops, builds, and operates utility-scale energy storage and hybrid renewable energy projects, using commercially viable technologies, to create a more sustainable and reliable grid. The company has 30 projects currently in operation or under construction across the U.S. and more than 22 gigawatts in its development pipeline. 

Alex Mertens led the Stoel Rives transaction team, which included Michael Novak, Bo Harvey, Bradley Buchanan, Kevin Pearson, Michael Such, and others.

For more on the deal, see the PR Newswire press release.