Aypa Power has secured US$535 million in construction financing for Vidal, a 320 MW solar and energy storage project in San Bernardino County, California. The project is expected to combine 160 MW of solar generation with a 160 MW/640 MWh battery energy storage system. Further, the hopes of the project are to enhance the grid’s reliability across the state’s while supporting California’s carbon-free electricity goals. Specifically, it will deliver electricity, renewable energy certificates and resource adequacy to San Diego Community Power through a long-term power purchase agreement. The initiative is projected to generate more than US$13.5m in local economic benefits. In addition, it will create up to 260 construction jobs in San Bernardino County.
Also Read Additional US$7 billion in funding sought for California High-speed Rail
CDH Vidal LLC proposed the project in October 2021. It was approved later in December 2024 after extensive assessments were done on the project. Vidal will sit on 1,220 acres of land. Additionally, it will be constructed alongside a 161-kilovolt (kV) transmission line. A new switchyard and associated interconnection facilities adjacent to the project will also need to be put up near the project and the existing HDR-BLY line. Furthermore, the project scope outlines the construction of access roads for construction and maintenance.
Project Overview
Location: San Bernardino County, California
Developers: Aypa Power, CDH Vidal LLC
Total Capacity: 320 MW
Solar Generation: 160 MW
Project Scope: 1,220 acres of land
Details on the Aypa Power Vidal Project Financing
Santander Corporate & Investment Banking played a central role in the transaction, serving as the coordinating lead arranger and mandated lead arranger. Additionally, it served green loan coordinator, lender, and letter of credit (LC) issuer. US Bank National Association, through its US Bancorp Impact Finance subsidiary, and Zions Bancorporation, N.A. also participated as mandated lead arrangers and lenders. Additionally, Siemens Financial Services and Associated Bank, N.A. contributed as managing agents and lenders. In January, Aypa Power obtained $190 million in funding for its Bypass BESS project located in Fort Bend County, Texas. The 200MW/400MWh facility is intended to address the region’s energy storage requirements. The financing included a $68 million construction-to-term loan and a $91 million tax equity bridge loan, amounting to $159 million dedicated to the construction phase.
Also Read Balfour Beatty to Lead $60 Million Stormwater Capture Project at Bassett High School in California
