From: Mercom India
Brookfield Asset Management, a New York-headquartered global investment firm focused on infrastructure, renewable energy, private equity, real estate, and credit, has agreed to acquire North American battery storage platform Aypa Power from funds managed by Blackstone Energy Transition Partners.
The transaction, which is subject to customary regulatory approvals, values Aypa at approximately $7 billion on an enterprise value basis at closing and $3 billion on an equity value basis. The companies did not disclose the expected closing date.
Aypa has approximately 6.5 GW of operating, under-construction, and contracted battery storage capacity and a development pipeline exceeding 20 GW. The operating and under-construction portfolio is said to be 95% contracted under long-term agreements with investment-grade customers for an average remaining contract life of 17 years.
Under the agreement, Brookfield will acquire Aypa’s operating, under-construction, and contracted projects, its development platform, and approximately 200 employees.
Brookfield, with more than $1 trillion in assets under management, said the acquisition would expand its presence in the North American battery storage market. The company also plans to support Aypa’s development pipeline, supported by Brookfield’s differentiated operating and development competencies, procurement, commercial, and capital markets capabilities.
Cantor Fitzgerald & Co. served as the lead financial adviser to Aypa and Blackstone. Bank of America also served as a financial adviser. Kirkland & Ellis acted as legal counsel to Aypa and Blackstone, while White & Case served as legal counsel to Brookfield.
According to Mercom’s Q1 2026 Funding and M&A for Energy Storage report, corporate M&A activity increased, with seven companies acquired in the first quarter of 2026 compared to only one in Q1 2025.
In July 2026, Royal Vopak, a company that owns and operates infrastructure for the storage and handling of liquids and gases, acquired a 79% stake in Green Energy Storage and took a final investment decision for a 200 MW/800 MWh battery energy storage project in Oosterhout, the Netherlands.
