Apollo Global Management to Fund RWE's Transmission-Grid Expansion

By Adam Whittaker

Apollo Global Management is set to inject 3.2 billion euros ($3.75 billion) into a newly formed joint venture with German utility company RWE, which will be reinvested into electricity grid infrastructure.

RWE said Monday that the investment would be used to fund the expansion of the German transmission-system operator Amprion, in which it holds a 25.1% stake.

Amprion is one of four transmission-systems operators in German and plans to expand significantly over the next decade, RWE said. The expansion is essential to facilitating Germany's energy transition, it added.

Under the agreement, Apollo will take an equity stake in a newly established joint venture which will hold RWE's stake in Amprion. RWE will receive the funding upfront which it will reinvest into Amprion.

RWE will have operational control of the joint venture and manage the stake in Amprion. Dividends from Amprion will be shared between the two parties, RWE said.

The deal is expected to close in the fourth quarter of 2025 and is subject to regulatory approvals.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

September 08, 2025 02:11 ET (06:11 GMT)