#United States #Renewable Energy #San Bernardino #Aypa Power

Aypa Power Secures Major Funding for California Solar Project

Aypa Power, a prominent figure in the utility-scale energy space and a member of the Blackstone portfolio, recently announced a significant financial milestone. The company closed a noteworthy $535 million debt financing agreement aimed at propelling a substantial solar-plus-storage project located in San Bernardino County, California.

The Vidal Project Overview

The Vidal project, comprising a robust 320 megawatt (MW) capacity, combines both solar generation and a battery energy storage system (BESS). Specifically, it will feature 160 MW of solar power paired with a 160 MW / 640 megawatt-hour storage solution designed to deliver reliable clean energy. This innovative facility is poised to play a pivotal role in fortifying grid reliability across California while contributing to the state's ambitious goal of achieving 100% carbon-free electricity by 2045.

As Marc Atlas, Chief Financial Officer of Aypa Power, noted, "The successful closure of this financing reflects the robust trust and confidence that top-tier lenders have in Aypa Power's capability to deliver grid-scale energy solutions that yield substantial returns over the long term."

Financing Partners

The financial arrangements for the Vidal project were skillfully orchestrated by Santander Corporate Investment Banking, which served as the Coordinating Lead Arranger, among other roles. Other key lending partners included U.S. Bank National Association, Zions Bancorporation, Siemens Financial Services, and Associated Bank.

Project Benefits

The benefits projected by the Vidal project extend beyond energy generation. Once operational, slated for 2026, the facility is expected to not only provide essential electricity and resource adequacy but also renewable energy certificates under a long-term power purchase agreement partnered with San Diego Community Power. In addition, it is anticipated to generate an economic impact exceeding $13.5 million for the local community and create up to 260 construction jobs within San Bernardino County.

Aypa Power's Vision

Aypa Power has carved a niche in the energy market as a leader in energy storage, focusing on developing, owning, and operating utility-scale renewable energy projects throughout North America. With 35 projects currently in motion and a development pipeline that exceeds 22 gigawatts, Aypa continuously strives to innovate and enhance grid reliability for a more sustainable future.

From its inception in 2018, Aypa Power has positioned energy storage as an integral part of the energy grid, exemplifying its crucial role as a key infrastructure asset. As the company forges ahead with multifaceted projects like the Vidal initiative, it sets a compelling example of how integrated renewable energy solutions will shape our future energy landscape. For more information about the company and its projects, visit aypa.com or follow Aypa Power on LinkedIn.

Conclusion

The closing of this extraordinary financing not only reflects Aypa Power's commitment to advancing California's clean energy agenda but also underscores the critical investments needed to ensure a reliable energy future. As the corporate landscape shifts towards sustainability, projects like Vidal will be instrumental in creating a greener, more resilient grid for all.