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Stock impact report

Aypa Power Secures $1.5 Billion in Warehouse Facility Financing to Accelerate Construction of Utility-Scale Energy Storage Projects [Yahoo! Finance]

Canadian Imperial Bank of Commerce (CM) 
Last canadian imperial bank of commerce earnings: 2/26 05:53 am Check Earnings Report
Company Research Source: Yahoo! Finance
storage and hybrid renewable energy projects, today announced the closing of its $1.5 billion construction warehouse revolving credit facility, with an additional $0.5 billion accordion feature. The first-of-its-kind transaction represents the largest warehouse financing executed for a storage-focused independent power producer and will serve as the company's principal funding source for projects expected to reach commercial operation through 2028. "This market leading financing marks a significant milestone for Aypa Power and reflects the scale, quality, and readiness of our development portfolio," said Moe Hajabed, Chief Executive Officer of Aypa Power. "The warehouse facility positions us to advance a growing pipeline of utility-scale energy storage projects and continue delivering critical infrastructure that strengthens grid reliability across U.S. markets. We are appreciative of the confidence that this large group of lenders has placed in our ability to execute at this scale. Show less Read more
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