Aypa Power has secured $535 million in debt financing to support the development of its Vidal hybrid renewable energy project, located in San Bernardino County, California. The project comprises a 160 MW solar photovoltaic (PV) facility co-located with a 160 MW/640 MWh battery energy storage system (BESS), and is scheduled to become operational in 2026.
Furthermore, the project will supply electricity, resource adequacy, and renewable energy certificates (RECs) to San Diego Community Power under a long-term power purchase agreement (PPA). It is expected to deliver over $13.5 million in local economic value and generate up to 260 construction jobs in the region.
The financing package was led by Santander Corporate & Investment Banking, which acted as Coordinating Lead Arranger, Mandated Lead Arranger, Green Loan Coordinator, Lender, and Letter of Credit Issuer. Additional Mandated Lead Arrangers and Lenders included U.S. Bank National Association (through its U.S. Bancorp Impact Finance subsidiary) and Zions Bancorporation, N.A. Siemens Financial Services and Associated Bank, N.A. participated as Managing Agents and Lenders.
