July 31, 2020
“NRStor C&I” Relaunches As “Aypa Power”, Continues to Lead Deployment of Energy Storage and Hybrid Renewables Across North America
Following the successful acquisition by Blackstone Energy Partners in March 2020, NRStor C&I has relaunched as Aypa Power (“Aypa”) as it rapidly expands across the North American market. Following the acquisition, Aypa has broadened its offerings to include utility-scale development and power marketing of standalone energy storage projects, as well as integrated battery systems paired with renewable generation and microgrids.
Further accelerating its growth, Aypa is proud to welcome Kim Oster as Chief Development Officer and John Marchand as an Executive Vice President and Managing Director, Power Marketing. Prior to joining Aypa, Oster served as Chief Strategy Officer at Cypress Creek Renewables, Vice President at First Solar and Director at The AES Corporation. Marchand’s previous roles include Senior Vice President, Business Development at EDF Renewable Energy and Vice President, Power Origination at Constellation Energy. Both Oster and Marchand bring decades of executive experience in renewable energy.
“I am thrilled to join this incredible team to bring reliable, affordable and clean energy to our customers via an innovative approach to storage and renewables,” said Oster. “The team has already attained remarkable success, and I look forward to being part of the next chapter of Aypa’s growth. Through innovation, teamwork and discipline, we’re building a sustainable future for the communities we serve.”
Aypa is a platform for both developers and landowners, providing flexible capital and support for project developers and enabling landowners to increase revenues on underutilized property. As a leading developer, owner and operator of standalone energy storage and hybrid projects, Aypa is creating a smarter, cleaner and more reliable electricity grid.
“Aypa is committed to revolutionizing our electricity grid and delivering affordable, sustainable energy to communities across North America,” said Moe Hajabed, Chief Executive Officer at Aypa Power. “We are very proud of what our team has accomplished in a relatively short period, and excited for the next phase of our growth.”
About Aypa Power
Aypa Power is a Blackstone portfolio company and a pioneer in utility-scale and distributed energy storage. As a developer, owner and operator of MW-scale battery and renewable energy projects, Aypa’s turn-key approach delivers reliable electricity at lower prices than conventional solutions. With projects ranging from microgrids to industrial facilities and utility-scale systems, Aypa is committed to creating the robust, diverse and sustainable grid of the future.
About Blackstone Energy Partners
Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a successful record built on our industry expertise and partnerships with exceptional management teams. Blackstone private equity has invested or committed $16 billion of equity globally across a broad range of sectors within the energy industry.
Blackstone (NYSE: BX) is one of the world’s leading investment firms. The company seeks to create positive economic impact and long-term value for its investors, the companies they invest in and the communities in which they work. Blackstone does this by using extraordinary people and flexible capital to help companies solve problems. Its asset management businesses, with $571 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.