RWE and Apollo Global Management have completed their partnership transaction to secure long-term financing for investments in the German electricity transmission grid.
The newly founded joint venture holds RWE’s 25.1% stake in Amprion, with Apollo paying 3.2 billion for a share in the vehicle, according to the companies.
RWE said it will reinvest the funds in Amprion over the next ten years to support the operator’s grid expansion programme.
RWE retains operational control of the joint venture and continues to manage the Amprion stake, which remains fully consolidated in its financial statements.
Amprion operates the transmission grid across seven federal states and supplies around 29 million people with electricity.
The company plans significant grid expansion over the next decade to strengthen critical energy infrastructure and support the energy transition in Germany.
RWE and Apollo close Amprion financing deal
By Paul Stephen