Aypa Power, a Blackstone portfolio company and a leading independent power producer (IPP), has successfully closed a substantial $1.5 billion corporate credit facility. Lead managed by Nomura Securities International, this financial war chest—comprising a letter of credit (LC) and a revolving credit facility—is specifically structured to unlock the next phase of the company’s aggressive growth. With a staggering development pipeline exceeding 22 gigawatts (GW) across North America, this liquidity is not merely for operational expenses; it is the critical “project equity” needed to move massive utility-scale storage assets from the permitting desk to the construction site. By securing this capital, Aypa effectively clears the financial hurdles required to execute commercial agreements and interconnection deposits, ensuring their projects maintain their queue positions in a crowded grid interconnect market.

From Balance Sheet to Jobsite Reality

While the headline figure is financial, the on-the-ground impact is physical and immediate. In the utility-scale storage sector, significant capital must be posted as collateral long before a shovel hits the ground—specifically for interconnection security deposits and major equipment procurement. This facility allows Aypa to post these letters of credit without tying up cash reserves, enabling them to place firm orders for long-lead items like lithium-ion battery racks, high-voltage transformers, and inverters. For the construction supply chain, this signal ensures a steady flow of work for EPC (Engineering, Procurement, and Construction) contractors. It facilitates the rapid deployment of hybrid renewable energy projects. Battery systems are co-located with solar or wind generation to capture clipped energy and provide “firm” power that can be dispatched during peak evening demand, rather than just when the sun shines or wind blows.

Aypa Power Financing: Factsheet

Company: Aypa Power (Blackstone Portfolio Company)

Total Facility Size: $1.5 Billion

Structure: Corporate Credit Facility (Letter of Credit & Revolving Credit)

Lead Arranger: Nomura Securities International

Administrative Agent: Nomura

Strategic Purpose:

Support a 22 GW project pipeline.

Fund development capital and equipment deposits.

Post interconnection and PPA security.

Technology Focus:

Standalone Battery Energy Storage Systems (BESS).

Hybrid Renewable Systems (Storage + Generation).

Market Impact: Accelerates deployment of firming capacity across major US power markets (CAISO, ERCOT, PJM, etc.).

Key Advantage: Provides liquidity to navigate long-lead procurement cycles for batteries and transformers.

Stabilizing the Grid Transition

Mobilization for the project will trigger one of the largest labor calls in the region’s history. The peak construction workforce is estimated to be 1,500 skilled tradespeople. This influx creates an immediate demand for pipefitters, welders, and heavy equipment operators, injecting millions into the local hospitality and housing sectors of Williams County. Once operational—targeted for 2028—the plant will sustain nearly 100 permanent, high-wage operating positions. Moreover, the production of “drop-in” synthetic fuels provides regional farmers and logistics fleets with a local source of clean-burning diesel, insulating the local economy from global oil price volatility.

Ultimately, this project serves as a blueprint for the future of the Williston Basin. It proves that industrial decarbonization and fossil fuel utilization can coexist through advanced engineering—a commitment to resilient energy infrastructure that is also driving investment in grid stability, as Aypa Power secures $535 million in financing for the 320 MW Vidal Solar and Energy Project. Located in San Bernardino County, California, this hybrid facility will combine 160 MW of solar generation with a 160 MW/640 MWh battery storage system. It will deliver resource adequacy to San Diego Community Power while creating up to 260 local construction jobs.