RWE and Apollo Global Management, an asset manager with significant experience in infrastructure investments, have entered into a long-term partnership, a joint venture, to secure funding for RWE’s 25.1% stake in Amprion.
Apollo will provide €3.2 billion in equity, which RWE and Apollo will jointly invest in Amprion over time. RWE will retain operational control over the joint venture.
Amprion is one of Germany’s four transmission system operators and manages the transmission grid in the country’s economic heartland, which spans seven German federal states. Amprion plans significant grid expansion investments over the next decade, to enhance critical energy infrastructure. This expansion is regarded as essential in facilitating Germany’s commitment to drive the energy transition forward.
In recent years, Amprion has been an attractive investment with reliable and stable returns from its regulated asset base. Based on the confidence that future investments will continue to yield attractive and appropriate returns for equity investors, the partnership of RWE and Apollo ensures that the required equity capital for its 25.1% stake is available to support Amprion’s major investment programme over the next decade. At the same time, this partnership aligns with RWE’s strategy to expand its generation portfolio of renewables, batteries, and flexible generation assets and to focus on its core activities of power generation and energy trading.
