Aypa Power closes financing of 173 MWh battery energy storage project in Texas

Aypa Power, a Blackstone portfolio company that develops, owns, and operates energy storage and hybrid generation assets, has closed a US$88 million construction and term loan facility for its Wolf Tank energy storage project with the lending institutions - CIT, a division of First Citizens Bank, and Siemens Financial Services, Inc.

Wolf Tank is a standalone 173 megawatt-hour battery storage energy project in Webb County, Texas. The project will begin commercial operations in 2023 and will help the Electric Reliability Council of Texas (ERCOT) deliver a dependable electricity supply in the south region.