Brookfield Acquires Aypa Power in $7 Billion Battery Storage Deal
Brookfield Asset Management Ltd. has agreed to acquire Aypa Power, a developer and operator of battery storage and renewable energy projects, in a deal valued at approximately US$7 billion including debt.
The transaction will see Brookfield purchase Aypa Power from Blackstone Energy Transition Partners, with the deal valuing Aypa’s equity at about US$3 billion.
The acquisition comes as demand increases for battery storage infrastructure, driven in part by the rapid expansion of AI data centres and the need for reliable power solutions. Battery systems can help improve grid flexibility, store excess energy and support faster connections for large electricity users.
Aypa Power currently operates and develops energy storage projects across North America, with approximately 6.5 gigawatts of operating and contracted battery capacity and more than 20 gigawatts in development.
The investment will be made through Brookfield’s global transition strategy alongside Brookfield Renewable Partners.
The deal continues Brookfield’s expansion into energy transition assets, following recent investments in renewable energy developers as demand grows for infrastructure supporting the changing energy market.
Source: financialpost.com
