Brookfield to acquire Aypa Power from Blackstone for $7 billion

Shree Mishra Thu, July 23, 2026 at 7:40 AM PDT | 2 min read

Aypa Power manages approximately 6.5GW of battery storage assets in operation — Power Technology

Brookfield has agreed to purchase Aypa Power from funds managed by Blackstone Energy Transition Partners, assigning an enterprise value of approximately $7 billion and an equity value of $3 billion to the transaction.

According to Brookfield, the deal will mark its entry into the North American battery energy storage market.

Portfolio and Operations

Aypa Power operates a portfolio comprising roughly 6.5GW of operating, under-construction, and contracted battery storage capacity across the United States and Canada. The company is described as the largest stand-alone battery storage developer in North America, with a development pipeline that exceeds 20GW. Its assets are located in regions where transmission and capacity constraints are present.

As part of the agreement, Brookfield will acquire:

• Aypa's project portfolio
• Its development operations
• A team of approximately 200 employees

Strategic Significance

Jehangir Vevaina, Brookfield Energy Group Chief Investment Officer, said:

"We are excited to partner with Aypa to deliver on the company's scale growth pipeline. Battery storage is increasingly critical to the reliability and resilience of today's energy systems, and bringing together this leading platform with Brookfield's broad capabilities across technologies and geographies further strengthens our ability to deliver integrated energy solutions to the world's largest buyers of power."

The acquisition will help advance Aypa's next phase of growth and expand Brookfield's ability to provide integrated energy solutions.

According to Brookfield, 95% of Aypa's operating and under-construction assets are secured under long-term contracts with investment-grade clients, with these agreements having an average of 17 years remaining.

Leadership Commentary

Moe Hajabed, Aypa Power Founder and CEO, said:

"This is an extraordinary achievement for the team that built Aypa. Over the past six years, with Blackstone's partnership, we grew Aypa into the largest and most valuable storage-focused independent power producer in North America. Together, we helped establish battery storage as critical infrastructure, essential to a more reliable and resilient grid. I look forward to seeing Aypa flourish further under Brookfield's ownership."

Transaction Details

Completion of the transaction is subject to customary regulatory approvals.

Advisors:

• Aypa and Blackstone were advised by Cantor Fitzgerald & Co. as lead financial adviser, with additional financial advice from BofA.
• Legal counsel was provided to both parties by Kirkland & Ellis.
• Brookfield received legal advice from White & Case.

"Brookfield to acquire Aypa Power from Blackstone for $7bn" was originally created and published by Power Technology, a GlobalData owned brand.