Pediment BESS — 250 MW / 1,000 MWh standalone battery energy storage, Mesa, Arizona
Construction-to-back-leverage loan, tax credit transfer bridge loan, and letters of credit. 20-year tolling agreement with Salt River Project. Expected $16M+ direct economic impact incl. $14M property tax revenue. Operations expected 2026.
$398M
Deal Value
250MW
Capacity
1,000MWh
Storage
BESS
Technology
AZ
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Aypa Power (Blackstone)
- Buyer / Financier
- Société Générale, ING Capital LLC, Bank of America, Zions Bancorporation, Royal Bank of Canada, Desjardins Group
- Offtaker
- Salt River Project (20-year tolling agreement)
- Deal Value
- $398M
- Stage
- Under Construction
- ISO/RTO
- WECC
- Source
- Aypa Power
Capital Structure
$398M
Total transaction value
Tranches
- Construction-to-back-leverage loan · Société Générale, ING Capital LLC, Bank of America (Coordinating Lead Arrangers); Zions Bancorporation, Royal Bank of Canada, Desjardins Group (Joint Lead Arrangers)
- —
- Tax credit transfer bridge loan · Société Générale, ING Capital LLC, Bank of America (Coordinating Lead Arrangers)
- —
- Letters of credit · Société Générale, ING Capital LLC, Bank of America (Coordinating Lead Arrangers)
- —
Finance Counterparties
Lenders & Capital Providers
- coordinatingLeadArrangers
- Société Générale; ING Capital LLC; Bank of America
- jointLeadArrangers
- Zions Bancorporation; Royal Bank of Canada; Desjardins Group
- Administrative Agent
- Zions Bancorporation
- greenLoanCoordinator
- ING Capital LLC
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