Brookfield Asset Management announced it will acquire Aypa Power, a leading North American battery storage developer, from Blackstone Energy Transition Partners. The acquisition provides Brookfield with a significant platform in the battery energy storage systems (BESS) market.
Key Details
- Transaction Value: The deal is valued at approximately $7 billion in enterprise value, or a $3 billion equity value at closing.
- Acquired Assets: The acquisition includes Aypa's portfolio of approximately 6.5 GW of operating, under-construction, and contracted battery storage capacity, a development pipeline of over 20 GW, and its 200-person team.
- Contract Profile: 95% of Aypa's operating and under-construction portfolio is secured by long-term agreements with an average remaining contract life of 17 years.