Aypa Power Secures $535M for California 320MW Solar-Storage Hybrid

Aypa Power, a Blackstone portfolio company, has secured $535 million in debt financing to develop the 320 MW Vidal solar-plus-storage project in San Bernardino County, California. The hybrid facility will combine 160 MW of solar generation with a 160 MW/640 MWh battery energy storage system, enhancing grid reliability and supporting California's goal of 100% carbon-free electricity by 2045. The project is expected to begin operations in 2026, supplying electricity, resource adequacy, and renewable energy certificates to San Diego Community Power under a long-term power purchase agreement. Key lenders involved include Santander Corporate & Investment Banking, U.S. Bank National Association, Zions Bancorporation, Siemens Financial Services, and Associated Bank. The project is projected to generate over $13.5 million in local economic benefits and create up to 260 construction jobs in the region. Aypa Power's CFO Marc Atlas highlighted the strong confidence from top-tier lenders and the company's commitment to delivering reliable, long-term returns while supporting California's growing grid needs.