In this news roundup, Aypa power upsizes its credit facility, Georgia Power begins construction on a 260MW BESS, and IOWN Energy on behalf of Eolus sells a 506MWh BESS to DESRI Energy storage developer Aypa Power has closed a US$500 million upsizing of its corporate credit facility, bringing total commitments to US$1.55 billion. Aypa claims that the transaction is one of the largest corporate credit facilities in the renewable energy sector and the biggest of its kind for energy storage. It will aid in advancing Aypa’s late-stage projects across North American markets. The facility is structured as a revolving credit facility, a term loan facility, and a letter of credit facility, offering Aypa a “comprehensive capital solution” to fund its development and pre-construction activities beyond 2028. In February, Aypa closed the US$1.5 billion construction warehouse revolving credit facility. The credit facility featured an extra US$500 million accordion feature . Typically, warehouse lending provides loan originators with a credit line to finance mortgages, allowing banks to issue loans without tying up their capital. Once a loan is originated, it is sold on the secondary market
