RWE has secured a major investment from Apollo Global Management, which will provide €3.2 billion ($3.75 billion) to support future upgrades of Germany’s power grid through Amprion, one of the country’s four transmission system operators.
The two partners plan to establish a joint venture that will hold RWE’s existing 25.1% stake in Amprion. Apollo will contribute its full equity commitment upfront, while RWE will reinvest in the JV over time to help fund Amprion’s growth and grid expansion.
Amprion recently raised its five-year investment plan to €36.4 billion through 2029, up 32% from its prior plan, underscoring the scale of infrastructure needed to integrate renewable energy and replace fossil fuels.
RWE will retain operational control of the JV and continue consolidating its stake in Amprion, while Apollo highlighted the JV’s “reliable and stable dividend returns from Amprion’s regulated asset base.”
The deal, expected to close in Q4 2025, comes as Germany’s grid operators seek billions in fresh funding to keep pace with the energy transition.
Source: Reuters
