Aypa Power secures $323M for Idaho's largest battery

• Aypa Power secures $323 million to build Idaho's largest battery, backed by Blackstone Inc. Leading the way in renewable energy storage.

Aypa Power, a renewables and energy storage company backed by Blackstone Inc, has secured a total of USD 323 million in financing to build a 150-MW/600-MWh battery in Idaho, which will be the largest in the state. The funding includes a USD 233 million loan and USD 90 million in tax equity.

The financing package for the Kuna battery energy storage system includes a construction and term loan, a tax equity bridge loan, and a letter of credit facility. The debt was provided by ING Capital LLC, Societe Generale, and Industrial and Commercial Bank of China, while US Bancorp Impact Finance led the tax equity investment. The project is expected to generate around USD 30 million in local economic development.

Aypa Power currently has over 22 GW of BESS projects under development in North America. Last month, the company closed a USD 650 million corporate credit facility to refinance existing debt and further advance its project pipeline in the US and Canada.

What financing package did Aypa Power secure for its 150-MW battery in Idaho?

• Aypa Power secured a total of USD 323 million in financing for its 150-MW battery in Idaho
  
• The funding includes a USD 233 million loan and USD 90 million in tax equity
  
• The financing package includes a construction and term loan, a tax equity bridge loan, and a letter of credit facility
  
• Debt was provided by ING Capital LLC, Societe Generale, and Industrial and Commercial Bank of China
  
• US Bancorp Impact Finance led the tax equity investment
  
• The project is expected to generate around USD 30 million in local economic development
  
• Aypa Power has over 22 GW of BESS projects under development in North America
• The company recently closed a USD 650 million corporate credit facility to refinance existing debt and advance its project pipeline in the US and Canada.