Brookfield Asset Management has agreed to acquire North American battery-energy storage developer Aypa Power from Blackstone Energy Transition Partners in a deal valued at approximately US$7 billion.

Aypa originated in Canada and now maintains its corporate headquarters in Austin, Texas and its Canadian head office in Toronto. The company owns and operates facilities across Canada and the U.S.

The acquisition gives Brookfield Asset Management a major foothold in the North American battery energy-storage market by adding Aypa’s portfolio of operating, under-construction and contracted projects, its development platform and its approximately 200-person workforce. Brookfield is making the investment through the second vintage of its flagship global transition strategy alongside institutional partners, including Brookfield Renewable Partners.

Aypa is the largest standalone battery-energy storage developer in North America, with approximately 6.5 gigawatts (GW) of operating and contracted battery storage capacity and a development pipeline exceeding 20 GW. Its operating and under-construction portfolio is 95% contracted under long-term agreements with investment-grade customers, with an average remaining contract life of 17 years.

Brookfield said the acquisition will strengthen its ability to provide integrated energy solutions to utilities, corporations and other large power customers while accelerating development of Aypa’s project pipeline through its operating, development, procurement and capital markets capabilities.

The transaction remains subject to customary regulatory approvals.

In spring 2026, Aypa and Six Nations of the Grand River Development Corporation secured approximately $700 million in development financing through an eight-bank lender syndicate for two large battery energy-storage facilities in Ontario.

Pictured: Future Aypa-Six Nations Hedley battery-storage project in Ontario.

Rendering: Six Nations