Key facts
- Brookfield is acquiring Aypa Power, a North American battery storage developer.
- The deal has an enterprise value of $7 billion.
- Aypa Power's portfolio includes 6.5 GW of operating, under-construction, and contracted projects.
- Aypa has a development pipeline exceeding 20 GW.
- Brookfield is acquiring Aypa from funds managed by Blackstone Energy Transition Partners.
Brookfield has agreed to acquire Aypa Power, the largest standalone battery storage developer in North America, in a deal valued at $7 billion. The acquisition was made from funds managed by Blackstone Energy Transition Partners.
Aypa's portfolio encompasses 6.5 gigawatts of operating, under-construction, and contracted projects, along with a development pipeline exceeding 20 GW. The deal also includes Aypa's approximately 200 employees.
Battery storage is increasingly vital for the reliability of energy systems, particularly for integrating renewable energy sources. As demand for electricity grows, driven in part by the proliferation of data centers, battery storage solutions are expected to play a critical role in meeting these needs. Brookfield aims to leverage Aypa's platform with its own extensive capabilities to deliver integrated energy solutions.
In February, Aypa secured a $1.5 billion credit facility from a consortium of financial institutions, which is expected to fund new U.S. projects through 2028.