Brookfield Agrees to $7 Billion Deal for Battery Storage Firm Aypa

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessBrookfield Agrees to $7 Billion Deal for Battery Storage Firm AypaBrookfield Asset Management Ltd. has agreed to acquire battery storage developer Aypa Power for $7 billion including debt, people familiar with the matter said, as demand soars for companies that help power the AI boom.Author of the article:Naureen S. Malik and David Carnevali You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Brookfield Asset Management Ltd. has agreed to acquire battery storage developer Aypa Power for $7 billion including debt, people familiar with the matter said, as demand soars for companies that help power the AI boom.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe investment firm is buying Aypa from Blackstone Energy Transition Partners and a deal could be announced as soon as Wednesday, according to the people. The transaction gives Aypa an equity value of $3 billion, they said.Surging demand for the infrastructure needed for AI data centers has boosted the appeal of companies able to provide it. In particular, data center operators are prizing battery systems that store excess energy to minimize the risk of interrupted power at their facilities. They’re also using batteries to speed connecting to the grid, with some facilities able to come online years ahead of schedule. Aypa develops, owns, and operates energy storage sites and hybrid renewable energy projects across North America. The company has 6.5 gigawatts of operating and contracted battery capacity and more than 20 gigawatts in development, the people said. One gigawatt is equivalent to the capacity of a traditional nuclear reactor.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againFor Blackstone, the sale will deliver a 6.2 times multiple on invested capital, according to one of the people, who asked not to be identified discussing confidential information.Representatives for Brookfield and Blackstone declined to comment.Brookfield is making the investment in Aypa through its global transition strategy and alongside partners including Brookfield Renewable Partners. The investment firm has more broadly been pouring money into energy providers and in the last 18 months has struck multibillion-dollar deals for renewable developers Boralex in Canada and Neoen in France.—With assistance from Mark Chediak.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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