After less than three months since signing, RWE and Apollo Global Management (NYSE:APO) have successfully closed their partnership transaction, securing the long-term funding for Amprion’s investment in expanding the German electricity transmission grid. All necessary regulatory approvals required for the completion of the transaction have been granted by the relevant authorities.
The newly established joint venture (JV) between RWE and Apollo holds RWE’s stake in Amprion. Apollo, on behalf of its managed funds and entities, has paid €3.2 billion to RWE in exchange for an equity stake in the joint venture. Over the next decade, RWE will subsequently reinvest the funds into Amprion through the JV as required to support its grid expansion programme.
RWE retains operational control of the JV and continues to manage the Amprion stake while consolidating the joint venture in its financial statements.
Amprion is one of Germany’s four Transmission System Operators (TSO) and operates the transmission grid in the country’s economic heartland, which spans across seven German federal states, serving approximately 29 million people. The TSO plans significant grid expansion investments over the next decade, to enhance critical energy infrastructure. This expansion is essential in facilitating Germany’s commitment to drive the energy transition forward.