Aypa Power Acquires Indiana Energy Storage Projects
Aypa Power (Aypa), a Blackstone portfolio company that develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects, has closed on the purchase of two standalone battery energy storage (BESS) projects in Indiana from Blue Steel Power, a joint venture between Open Road Renewables LLC (Open Road) and Eolian L.P. (Eolian).
The Williams Power project is a 150-MW late-stage development project located in Jefferson County, Indiana, and Fletcher Power is a 118-MW late-stage project located in Decatur County, Indiana. These BESS projects will provide grid resilience and capacity to the grid operated by Midcontinent Independent System Operator (MISO).
Aypa will take over all development required to bring these projects to operation. In addition to supporting the reliability of the region’s electrical grid, these projects will create economic benefits through construction, operation, and maintenance jobs and tax revenues to the local community.
“Working with the Open Road and Eolian teams on this transaction demonstrated the depth of expertise they have in developing and siting high-quality projects,” said Aypa Power CEO Moe Hajabed. “With anticipated shortfalls in capacity resources in MISO, developing and operating the Williams and Fletcher projects will be critical to efficiently improving grid resiliency.”
