Blackstone’s Aypa has secured US$550 million in debt and tax equity for 700MWh projects in California and Texas. The funds will be used for the Cald project in Los Angeles and the Borden County project in Texas, which is currently under construction and set to enter commercial operation in 2024. The projects were likely to be those from the energy storage arm of Canadian Solar earlier this year. The larger size of the larger project is likely due to the need to overbuild a project to account for energy losses from DC to AC conversion at the inverter. AypA has been owned by Blackstone since 2020 and is active in the US’s two largest markets for storage (California and Texas).
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
