Aypa Power (“Aypa”), a Blackstone portfolio company that develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects, recently closed on the purchase of two standalone battery energy storage (BESS) projects in Indiana from Blue Steel Power, LLC, 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 standalone battery energy storage 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, operations, 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 that 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.”

 “It was great to work with the Open Road and Eolian teams in structuring this transaction,” said Aypa Power Director of Mergers & Acquisitions, Steven Greene, “These acquisitions materially advance our portfolio in Indiana and demonstrate our commitment to improving capacity within the region.”

“We’re thrilled to work with a leading firm like Aypa to help contribute to the region’s grid stability, as well as to the local economy, with these innovative projects,” said Open Road President, Cyrus Tashakkori.

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Aypa Power is a Blackstone portfolio company that develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects. As an independent power producer, Aypa was founded with the purpose of reducing reliance on fossil fuels and making a positive impact in the fight against climate change, while improving grid reliability and resiliency. Aypa has been at the forefront of energy storage development since their first energy storage project came online in 2018. The company currently has more than 15GW in development across North America. For more information, follow Aypa Power on LinkedIn.