The project is strategically timed to meet Idaho’s capacity needs by 2025. Credit: The Desert Photo / Shutterstock.

Aypa Power, a Blackstone portfolio company, has secured $323m in financing for its Kuna project in Idaho, US.

The 150MW/600 megawatt hours (MWh) facility, situated near Boise in the city of Kuna, will become Idaho’s largest battery energy storage project by mid-2025.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The financing package for the Kuna project includes a $233m green loan, which encompasses a construction and term loan, a tax equity bridge loan and a letter of credit facility.

The project has also secured $90m in tax equity, culminating in a total financing of $323m.

ING Capital, Société Générale, and Industrial and Commercial Bank of China (New York branch) spearheaded the debt financing. Each institution served as a co-ordinating lead arranger and lender.

Deutsche Bank Trust Company Americas served as the administrative agent, with the US Bank as depositary and collateral agent.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Tax equity investment for the project was led by US Bancorp Impact Finance, a subsidiary of US Bank.

The Kuna project is strategically timed to meet Idaho’s capacity needs by 2025 and will create 150 jobs at the peak of its construction phase.

It is projected to contribute $30m to local economic development throughout its operational lifespan.

In April 2024, Aypa secured a long-term energy storage agreement with Idaho Power for the Kuna project.

Aypa Power CEO Moe Hajabed stated: “It is bold capital investments like this that enable the scaled deployment of battery energy storage technology and make the energy transition possible.

“Bringing Idaho’s largest battery energy storage project online will represent a significant milestone in supporting the state’s strong clean energy portfolio.

“The Kuna project ensures that communities benefit from sustainable and reliable power – important as the state sees significant economic development and unprecedented energy demand from data centres and other industrial users.”

In March 2023, Aypa Power purchased two standalone battery energy storage system projects in Indiana.