In October 2022, Doral Renewables USA entered into a financing agreement with funds managed by Apollo Global Management, Inc., Migdal Insurance, and Bank of America to secure up to $1.1 billion of growth capital for its 10GWac project pipeline. Doral is a developer and operator of renewable energy projects intended to create jobs, invest in communities and promote a cleaner planet
In August 2022, Apollo Global Management and New Fortress Energy (NFE) formed a JV, namely, Energos Infrastructure. The JV is owned c.80% by Apollo-managed funds and the remaining by NFE. In support of the transaction, the debt financing was provided by Brookfield Asset Management, Global Infrastructure Partners, HPS Investment Partners and The Carlyle Group. Energos Infrastructure will provide critical infrastructure for the delivery, storage and regasification of LNG to power countries around the world
In July 2022, Apollo Global Management invested $175 million of development capital in Summit Ridge Energy. Summit Ridge Energy is an operator of a solar plant community intended to serve residential customers, businesses and public organisations and will utilize the capital to expand its geographic footprint and scale up its platform
In February 2022, Tenneco, a manufacturer of specialty microelectronic components entered into a definitive agreement to be acquired by Apollo Global Management through an estimated $7.1 billion public-to-private LBO. The acquisition will allow the company to continue to invest in and grow its multiple segments and global footprint
In December 2020, Renew, a provider of operations and maintenance services intended for the renewable energy market was acquired by Takkion Holdings, via its financial sponsor Apollo Global Management, through an LBO
In August 2020, Apollo Global Management invested $265 million of development capital through convertible debt and equity to acquire an equity stake in US Wind. The capital will be used to fund development and construction costs associated with a major offshore wind energy project off the coast of Maryland
In January 2020, energy infrastructure company New Fortress Energy raised $800 million 3-year term loan from funds managed by Apollo Global Management. Proceeds will be used to fund the development and construction of the company’s energy infrastructure projects globally
In March 2019, Apollo Global Management LLC. acquired a 6% stake in independent power producer Clearway Energy Inc.
In October 2018, Apollo Global Management, LLC acquired an approximately $1 billion portfolio, from GE Capital’s Energy Financial Services unit. The Equity Portfolio comprises approximately 20 investments in renewable energy, contracted natural gas fired generation and midstream energy infrastructure assets, primarily in the US. Financial details of the transaction were not disclosed
