Aypa Power, a U.S.-based energy storage developer backed by Blackstone, has secured $1.5 billion in warehouse facility financing to support the construction of utility-scale energy storage projects across the United States.

The financing includes a $1.5 billion construction warehouse revolving credit facility, along with an additional $500 million accordion feature. According to the company, the transaction represents the largest warehouse financing completed to date for a storage-focused independent power producer, and will serve as its primary funding source for projects expected to reach commercial operation through 2028.

Founded in 2017, Aypa Power develops and operates battery energy storage systems, including both standalone projects and assets paired with renewable generation. The Texas-based company currently has 30 projects either operating or under construction, alongside a development pipeline exceeding 22 GW. Its first storage project entered service in 2018, and the company was acquired by Blackstone in 2020.

Moe Hajabed, Chief Executive Officer of Aypa Power, said the financing reflects the scale and readiness of the company’s portfolio and will support the continued expansion of critical grid infrastructure. The funding is expected to accelerate deployment of large-scale storage assets designed to enhance grid reliability across U.S. power markets.

The announcement comes amid growing demand for energy storage as utilities and grid operators seek to integrate higher levels of renewable energy while maintaining system stability.

Source: esgtoday.com