Energy storage developer Aypa Power has raised $1.55B—the largest such transaction for the sector, the company claims. (Yahoo Finance)
Aypa, a Blackstone portfolio company, reached this milestone with a recent $500 million upsizing of its corporate credit facility. The company has 42 utility-scale storage and hybrid renewable projects in operation or under construction, with a development pipeline of over 22 GW.
What it means: This signals that institutional capital sees opportunity in the storage sector, even in what Aypa’s CEO called a “capital-constrained market.”