Brookfield agreed to acquire Aypa Power from Blackstone Energy Transition Partners. Aypa Power is the largest standalone battery storage developer in North America.
The transaction carries an enterprise value of approximately $7 billion. The equity value of the deal is $3 billion.
The acquisition includes Aypa’s entire platform of operating and under-construction projects. The deal also encompasses a substantial development pipeline and approximately 200 employees.
Long-term agreements cover 95% of Aypa’s current portfolio. These contracts have an average remaining life of 17 years.
The transaction remains subject to customary regulatory approvals.