Brookfield secures Aypa Power in $7 billion battery storage acquisition

Brookfield Asset Management agreed to acquire Aypa Power from Blackstone Energy Transition Partners in a transaction valued at roughly $7 billion on an enterprise‑value basis, with an equity component of about $3 billion. The deal gives Brookfield control of Aypa’s portfolio of 6.5 GW of operating, under‑construction and contracted battery‑storage capacity and a development pipeline exceeding 20 GW across the United States and Canada. About 95 % of the existing assets are covered by long‑term, investment‑grade off‑take agreements that have an average remaining term of 17 years, providing predictable cash flows.

Aypa, founded in 2017 and grown under Blackstone’s ownership since 2020, is described as the largest independent battery‑storage developer in North America, with more than 70 utility‑scale projects in its pipeline and roughly 200 employees. Brookfield plans to use its Global Transition Fund, capital markets capabilities and renewable‑energy expertise to accelerate development, integrate storage with its renewable generation portfolio, and meet rising demand from AI data centres and intermittent renewable power.

Chief Investment Officer Jehangir Vevaina said battery storage is becoming “critical to the reliability and resilience of today’s energy systems,” and the acquisition positions Brookfield to deliver integrated energy solutions to large power buyers worldwide.