Brookfield to Acquire Aypa Power from Blackstone for $7 Billion
Brookfield has agreed to acquire Aypa Power from Blackstone-managed funds for an enterprise value of approximately $7 billion and an equity value of $3 billion. The deal marks Brookfield's entry into the North American battery energy storage market. Aypa Power, described as the largest stand-alone battery storage developer in North America, manages roughly 6.5GW of operating, under-construction, and contracted battery storage capacity across the US and Canada, with a development pipeline exceeding 20GW. The acquisition includes Aypa's project portfolio, development operations, and a team of about 200 employees. Brookfield noted that 95% of Aypa's operating and under-construction assets are secured under long-term contracts with investment-grade clients, averaging 17 years remaining. The transaction is subject to customary regulatory approvals. Cantor Fitzgerald & Co. and BofA advised Aypa and Blackstone, with legal counsel from Kirkland & Ellis, while Brookfield received legal advice from White & Case.
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