Apollo acquires 50% stake in TotalEnergies’ Texas solar and BESS portfolio

GlobalData | Source: Microsoft Start | Posted 12/11/2024

Keyword Tags:

High-growth alternative asset manager Apollo has announced an agreement through its managed funds to acquire a 50% stake in a significant Texas solar and battery energy storage system (BESS) portfolio from TotalEnergies.

AI generated summary

High-growth alternative asset manager Apollo has agreed to acquire a 50% stake in a substantial Texas solar and battery energy storage system (BESS) portfolio from TotalEnergies. The 2GW portfolio is based in the ERCOT market in Texas and consists of three solar projects with a total capacity of 1.7GW and two battery storage projects with a combined capacity of 300MW.

TotalEnergies will retain the remaining 50% stake and continue to operate the Danish Fields, Cottonwood, and Hill Solar I assets. Apollo's Clean Transition strategy aims to support TotalEnergies' Integrated Power business growth and capital recycling strategy, reflecting their commitment to sustainable investments in the energy transition space.

Link to Original Article

Please find the link to the full article below. (Please note that content provider might require a paid subscription)

Source Link: https://www.msn.com/en-us/money/technologyinvesting/apollo-acquires-50-stake-in-totalenergies-texas-solar-and-bess-portfolio/ar-AA1vlz39

Create a free trial account: Sign Up

Grid monitor is free to try. No credit card required

Apollo acquires 50% stake in TotalEnergies’ Texas solar and BESS portfolio

AI generated summary

Link to Original Article

Create a free trial account: Sign Up

Already have an account? Login