Aypa Power $500M corporate credit facility upsizing — total commitments raised to $1.55 billion
Aypa Power closes third consecutive annual upsizing of its corporate credit facility, adding $500M to bring total commitments to $1.55 billion. Facility structure: Revolving Credit Facility + Term Loan + Letter of Credit. Six new domestic and international lenders joined existing group. Largest corporate credit facility in the energy storage sector. Supports development and pre-construction activities beyond 2028. Aypa (CEO: Moe Hajabed) operates 42 projects in operation or construction with 22+ GW development pipeline across North America.
$1.55B
Deal Value
Solar + Storage
Technology
Multi-state
Location
Deal Details
- Deal Type
- Corporate Debt & Capital Markets
- Seller / Sponsor
- Aypa Power (Blackstone portfolio company)
- Buyer / Financier
- CIBC, Wells Fargo (lead structuring agents)
- Deal Value
- $1.55B total facility ($500M upsizing)
- Stage
- Development / Pre-Construction
- ISO/RTO
- Multiple
- Source
- PR Newswire / Aypa Power
Capital Structure
$1.55B
Total transaction value
Tranches
- Revolving Credit Facility
- —
- Term Loan
- —
- Letter of Credit
- —
Finance Counterparties
Lenders & Capital Providers
- Coord. Lead Arranger
- CIBC, Wells Fargo
- Lead Arranger
- CIBC, Wells Fargo
- notes
- Six new domestic and international institutions joined existing lender group on this third consecutive annual upsize.
Related Deals
Vidal Solar+Storage — 160 MW solar + 160 MW / 640 MWh BESS, San Bernardino County, California (CAISO)
Aypa Power (Blackstone portfolio company) → Santander (CLA), U.S. Bancorp Impact Finance, Zions, Siemens Financial Services, Associated Bank
$535M
Construction warehouse revolving credit facility for Aypa Power's utility-scale energy storage and hybrid renewable pipeline
Aypa Power (Blackstone portfolio company) → CIBC, Wells Fargo (lead structuring agents)
$1.5B (with $500M accordion)
TerraForm Power 51% + TerraForm Global 100% (out of SunEdison Ch.11)
Brookfield Asset Management
$2.49B ($1.7B TERP 51% @ $11.46/sh + $787M TERG)
TerraForm Global — 952 MW solar+wind in Brazil, India, China
TerraForm Global → Brookfield Renewable + institutional partners
$750M net investment / $1.3B EV ($787M cash + $455M debt)
Alterra Power — geothermal/hydro/wind/solar in Canada/US/Iceland
Innergex Renewable Energy
C$1.1B (~$870M USD)
Mira Loma Battery Storage Facility — 20 MW / 80 MWh Li-ion (~400 Tesla Powerpacks)
Tesla → Southern California Edison
20 MW
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.