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
Aypa Power upsizes credit facility
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.
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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 to recover the credit. This short-term credit system helps banks maintain liquidity while earning fees from loan origination and sales.
An accordion feature is an option that lets a company expand its line of credit with a lender. If the company needs more funds later, the terms are already set by this feature, avoiding the need for renegotiation.
In May 2025, Aypa secured a US$1.05 billion credit facility, boosting its existing corporate credit line from July 2024 to accelerate pipeline deployment.
In March, Aypa and Six Nations of the Grand River Development Corporation (SNGRDC) closed CA$700 million (US$512 million) for the Elora and Hedley battery energy storage system (BESS) projects in Ontario, Canada.
Georgia Power begins construction on 260MW BESS
Utility Georgia Power has started construction on a 260MW BESS in Jefferson County, located beside the existing Wadley solar facility and near existing transmission infrastructure.
The project is being constructed by engineering, procurement, and construction (EPC) firm Burns & McDonnell, and is expected to be completed in 2027.
Members of the Jefferson County Board of Commissioners, the Wadley City Council, and other community partners joined Georgia Power leaders to break ground on the project.
The project helps to address the state’s growing power needs identified in the utility’s 2025 integrated resource plan (IRP).
In May 2025, Georgia Power began constructing 765MW of new BESS across the state. This capacity was increased from 500MW, which the Georgia public service commission (PSC) unanimously approved in 2024.
The utility initially proposed the 2025 IRP in January of the same year, building on a 2023 version of the document. Georgia Power anticipates an 8.5GW increase in load in the state by 2030, which is over 2.6GW more than the 2023 forecasts. The approved 2025 IRP outlines Georgia Power’s strategies to address demand.
Georgia Power requested certification from the PSC for more than 3GW of BESS, also in 2025. This included the Wadley BESS project.
In late 2025, the utility reached an agreement with the Public Interest Advocacy (PIA) staff of the PSC that, if approved, would help to lower energy costs and meet electricity demand in the state, as well as mark an important milestone in the certification process for the requested BESS and other generating resources.
In addition to the Wadley project, Georgia Power announced it is nearing completing of four BESS facilities in Bibb, Cherokee, Floyd, and Lowndes counties, totalling the previously mentioned 765MW of BESS that began construction in May 2025.
IOWN sells Nevada BESS to DESRI for Eolus
Renewables developer IOWN Energy, on behalf of Eolus, the North American division of Sweden’s Eolus Vind, has sold the 127MW/506MWh Roccasecca BESS in Coulder City, Nevada, to IPP D. E. Shaw Renewable Investments (DESRI).
The transaction was finalised as an all-cash sale and involves transferring all shares of the Roccasecca special purpose vehicle (SPV) to the buyer.
As part of the transaction, around US$290 million in senior secured credit facilities, covering loans and letters of credit for project construction and operations, were arranged.
The financing was arranged with Zions Bancorporation, N.A., Société Générale, Intesa Sanpaolo, and Bayerische Landesbank serving as coordinating lead arrangers.
The Roccasecca project, currently under construction, is expected to begin commercial operations in 2026. Before the sale, essential project agreements, including a 15-year tolling agreement, equipment supply, engineering and construction contracts, and project financing, were negotiated and finalised, establishing the project as a fully contracted asset under construction.
After the transaction, DESRI has taken on all rights and responsibilities related to the project and will oversee construction management until it is finished, with IOWN providing support during the transition as necessary.
In January 2025, Eolus agreed to sell the 100MW/400MWh Pome BESS located in Poway, California. At that time, Eolus had three other standalone or solar-plus-storage projects in development, including the Roccasecca BESS.
In February, DESRI signed a preferred equity investment in IPP Linea Energy’s 235MW/470MWh Duffy BESS in Matagorda, Texas.
