Aypa Power Raises $500 Million to Bring Corporate Credit Facility to $1.55 Billion

Aypa Power, a developer and operator of utility-scale energy storage and hybrid renewable energy assets, announced on March 31, 2026 the closing of a $500 million upsizing of its corporate credit facility. Total commitments now reach $1.55 billion, marking the third consecutive expansion of this financing instrument. The transaction would rank among the largest corporate credit facilities in the renewable energy sector and is described by the company as the largest of its kind dedicated to energy storage.

A Three-Part Structure to Support Development Beyond 2028

The facility is structured in three components: a Revolving Credit Facility, a Term Loan Facility, and a Letter of Credit Facility. The arrangement is designed to fund Aypa Power's development and pre-construction activities with a horizon extending beyond 2028. The company plans to deploy these resources across its late-stage projects in key North American markets, without specifying which markets are targeted. The U.S. energy storage market recorded a record level of installations in 2025, with 18.9 GW installed over the full year.

Six new domestic and international financial institutions joined the lender pool as part of the transaction. Aypa Power did not disclose the names of these institutions. The company indicates that the expansion strengthens its relationships with lenders sharing a long-term view of the energy storage sector.

Executive Statements and Sector Positioning

Moe Hajabed, Chief Executive Officer of Aypa Power, states that the transaction "reinforces Aypa's leadership in the energy storage sector" and reflects "our capital partners' continued confidence in our ability to execute." Marc Atlas, President and Chief Financial Officer, adds that the expanded facility "enhances our liquidity and provides the financial flexibility needed to execute on a deep pipeline of projects, while maintaining our disciplined approach to capital allocation." These statements are taken from the company's press release.

Financing momentum in the energy storage sector remains strong against a backdrop of rapid capacity growth in North America. Regulatory frameworks governing storage installations associated with renewable energy are being adjusted in several jurisdictions, as illustrated by the French Energy Regulatory Commission's (CRE) proposal to adapt support for large photovoltaic installations with storage. Aypa Power has not provided a detailed list of the projects that will benefit from this new financing capacity.