AUSTIN, Texas, Feb. 3, 2026 /PRNewswire/ – Aypa Power, a Blackstone portfolio company and leading developer, owner, and operator of utility-scale energy storage and hybrid renewable energy projects, today announced the closing of its $1.5 billion construction warehouse revolving credit facility, with an additional $0.5 billion accordion feature. The first-of-its-kind transaction represents the largest warehouse financing executed for a storage-focused independent power producer and will serve as the company’s principal funding source for projects expected to reach commercial operation through 2028.
“This market leading financing marks a significant milestone for Aypa Power and reflects the scale, quality, and readiness of our development portfolio,” said Moe Hajabed, Chief Executive Officer of Aypa Power. “The warehouse facility positions us to advance a growing pipeline of utility-scale energy storage projects and continue delivering critical infrastructure that strengthens grid reliability across U.S. markets. We are appreciative of the confidence that this large group of lenders has placed in our ability to execute at this scale.”
“CIBC is proud to have led the structuring and execution of this important construction warehouse facility, supporting continued growth in the utility-scale energy storage sector,” said Ines Serrao, Managing Director and Co-Head of US Project Finance & Infrastructure, Canadian Imperial Bank of Commerce. “The facility is structured to support a portfolio of construction-ready, utility-scale assets and highlights the strength of Aypa Power’s development discipline.”
“Wells Fargo is proud to support Aypa in bringing this facility to market. This financing demonstrates the growing importance of large-scale energy storage as a core component of the U.S. power system,” said Alok Garg, Head of Project and Asset Finance at Wells Fargo.
Canadian Imperial Bank of Commerce, New York Branch and Wells Fargo acted as Lead Structuring Agents, Left Lead Arrangers, Coordinating Lead Arrangers, and Green Loan Coordinators. Canadian Imperial Bank of Commerce, New York Branch is the Administrative Agent and Collateral Agent for the three-year facility. U.S. Bank National Association served as Depositary Agent. Banco Santander, S.A., New York Branch, BNP Paribas, ING Capital LLC, Natixis, New York Branch, Royal Bank of Canada, New York Branch, and Société Générale also acted as Coordinating Lead Arrangers. ING Capital LLC also acted as Green Loan Coordinators. Bank of America, N.A., Fédération des Caisses Desjardins du Québec, Industrial and Commercial Bank of China Limited, New York Branch, KeyBanc Capital Markets Inc., National Bank of Canada, PNC Capital Markets LLC, Standard Chartered Bank, U.S. Bank National Association, and Zions Bancorporation, N.A. acted as Joint Lead Arrangers. Regions Bank acted as a Mandated Lead Arranger.
About Aypa Power
Aypa Power, a Blackstone portfolio company, develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects across North America. With 30 projects currently in operation or under construction, and a development pipeline exceeding 22 gigawatts, Aypa delivers solutions that strengthen grid reliability, integrate renewable energy, and reduce dependence on fossil fuels. Aypa has been at the forefront of energy storage development since its first energy storage project came online in 2018. For more information, follow Aypa Power on LinkedIn or visit www.aypapower.com.
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SOURCE Aypa Power
