Battery racks at Yadkins, an Aypa Power-owned BESS project in Chesapeake, Virginia. Image: Aypa Power.
Energy storage developer Aypa Power has secured US$320 million in corporate credit facilities to advance activities including interconnection agreements and customer contracts for a 15GW+ pipeline of projects.
Private equity firm Blackstone bought the business in 2020 and rebranded it from its former name of NRSTOR C&I. Prior to the acquisition, the company had been focused on commercial and industrial (C&I) projects, mostly in its home province of Ontario, Canada. Aypa Power has since pivoted towards the utility-scale market segment.
It has become a player in the US grid-scale market, opening up an HQ far south of the border in Texas. In Energy-Storage.news’ most recent coverage of Aypa Power, it secured US$88 million financing for a 173MWh standalone battery…