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Brookfield to Acquire North American BESS Developer Aypa Power for USD 7 Billion

Brookfield has announced that the company has entered into a definitive agreement to acquire North American battery energy storage developer Aypa Power from Blackstone Energy Transition Partners for an enterprise value of approximately USD 7 billion.

July 24, 2026. By Mrinmoy Dey

Brookfield has entered into a definitive agreement to acquire Aypa Power, a standalone battery energy storage system (BESS) developer in North America, from funds managed by Blackstone Energy Transition Partners for an enterprise value of approximately USD 7 billion at closing, including an equity value of USD 3 billion.

The acquisition includes Aypa’s operating, under-construction and contracted battery storage portfolio, its development platform, and its approximately 200-member team. The transaction will significantly expand Brookfield’s presence in the North American BESS market and support the next phase of Aypa’s growth, stated the company.

Aypa’s portfolio comprises around 6.5 GW of operating, under-construction and contracted battery storage capacity, along with a development pipeline exceeding 20 GW across key power markets in the United States and Canada. The company’s operational and under-construction assets are 95 percent contracted under long-term agreements with investment-grade customers, with an average remaining contract life of 17 years.

Brookfield said that it will pursue the investment through the second vintage of its flagship global transition strategy alongside institutional partners, including Brookfield Renewable Partners. The company plans to leverage its operational expertise, capital resources, procurement capabilities and global commercial relationships to accelerate the development of Aypa’s pipeline and deliver integrated energy solutions to utilities, corporations and other large power consumers.

Jehangir Vevaina, Chief Investment Officer in Brookfield’s Energy group, 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.”

Moe Hajabed, Founder and Chief Executive Officer of Aypa Power, 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.”

Bilal Khan, Senior Managing Director, and Mark Zhu, Managing Director, from Blackstone said, “We invested in Aypa based on our conviction that battery storage would become increasingly critical to supporting grid reliability and meeting growing electricity demand from AI and other use cases. Since then, the company has established itself as the leading battery storage platform in North America, supported by a premier development pipeline and strong customer relationships. We are proud to have partnered with Aypa and its exceptional management team, and look forward to its next phase of growth with Brookfield.”

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Blackstone Energy Transition Partners