Brookfield agrees to buy battery storage developer Aypa Power for $7 billion enterprise value
BAM•Brookfield to acquire Aypa Power
Brookfield Asset Management agreed to buy battery storage developer Aypa Power from Blackstone Energy Transition Partners for about $7 billion enterprise value.
The deal implies an equity value of $3 billion, giving Brookfield a scaled entry into the North American battery energy storage market.
Aypa has about 6.5 GW of operating, under-construction, and contracted capacity, supported by a development pipeline of more than 20 GW.
Its operating and under-construction portfolio is 95% contracted, with an average remaining contract life of 17 years.
Brookfield will take Aypa’s project portfolio, development platform, and about 200 employees, investing via its second global transition strategy vintage.
