Apollo Funds To Acquire 50% Stake In 2 GW Texas Solar, BESS Portfolio From TotalEnergies

(RTTNews) - Apollo Global Management, Inc. (APO) Wednesday announced that funds managed by Apollo affiliates have agreed to acquire a 50 percent stake in a Texas solar and battery energy storage system portfolio from TotalEnergies. The transaction is expected to be completed in the fourth quarter.

The portfolio includes approximately 2 GW of solar and BESS assets. The three solar projects have a total capacity of 1.7 GW and two battery storage projects with a combined capacity of 300 MW.

As per the agreement, TotalEnergies will retain a 50% stake that includes Danish Fields, Cottonwood, and Hill Solar I.

Apollo said it targets deploying $50 billion in clean energy and climate investments, across asset classes, through 2027 and sees the opportunity to deploy more than $100 billion by 2030.