Aypa Power, a utility-scale energy storage developer and portfolio company of Blackstone, has secured $535 million in debt financing to support the development of the Vidal project, a hybrid solar-plus-storage facility in San Bernardino County, California.

The project will combine 160 MW of solar capacity with a 160 MW / 640 MWh battery energy storage system, forming a 320 MW hybrid facility expected to become operational in 2026. Once completed, it will supply dispatchable renewable power to San Diego Community Power through a long-term power purchase agreement.

The financing was led by Santander Corporate & Investment Banking as Coordinating Lead Arranger and Green Loan Coordinator, with U.S. Bank, Zions Bancorporation, Siemens Financial Services, and Associated Bank also participating.

Marc Atlas, Chief Financial Officer at Aypa Power, stated that the successful financing reflects strong lender confidence in the company’s ability to deliver large-scale clean energy projects that meet California’s grid needs.

The Vidal project is expected to contribute significantly to California’s clean energy targets and improve grid reliability. It is also projected to generate more than $13.5 million in local economic activity and create up to 260 construction jobs in the region.

The initiative supports California’s broader goal of achieving 100% carbon-free electricity by 2045.

Source: solarquarter.com