Transaction Leverages Apollo’s Infrastructure Expertise, Flexible Capital and Institutional Relationships to Help Fuel the Clean Energy Transition

Apollo today announced that funds managed by its affiliates (the “Apollo Funds”) have made a first close on a $816 million in a convertible equity portfolio financing agreement with NextEra Energy Partners, LP in a 2.5 GW contracted renewable energy generation portfolio (the “Portfolio”). Participation in the investment by leading pensions and insurers underscores the attractiveness of the assets and a shared interest among Apollo and some of the world’s leading institutions to support the clean energy transition.

Apollo, through its managed funds and accounts, has been one of the most active alternative investors in energy transition equity, debt and hybrid investments, ranging from renewable energy assets and infrastructure, including offshore and onshore wind, solar and storage, to carbon reduction technologies, to helping finance the transformation of traditional energy companies toward a cleaner future.

In the transaction, Allen & Overy LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Apollo Funds.

Read more/Source: Globe Newswire