Aypa Power Secures Financing for Massive Battery Storage Facility in Idaho

Largest of Its Kind in the State

Aypa Power, a renewable energy and energy storage company backed by Blackstone Inc., has secured $323 million in financing for the construction of a 150-megawatt MW and 600 megawatt-hour MWh battery storage facility in Kuna, Idaho.

The facility, which will be located just outside of Boise, will be the largest of its kind in the state.

Key Partnerships and Agreements

In April 2023, Aypa through the Kuna BESS LCC, secured a long-term energy storage agreement with Idaho Power, a local utility company. This agreement will ensure that the facility's energy storage capacity is utilized to support the reliability and resilience of Idaho's electric grid.

Aypa's secured financing package includes a $233 million green loan comprised of a construction and term loan. The loan was provided by a consortium of banks led by KeyBanc Capital Markets and includes participation from MUFG Bank, Rabobank, and Silicon Valley Bank.

Conclusion

The Kuna battery storage facility is a testament to the growing demand for renewable energy and energy storage solutions. As more and more states transition to clean energy, Aypa Power is poised to continue playing a leading role in providing the infrastructure and technologies needed for a sustainable future.