Global alternative investment manager Apollo and German power producer RWE announced today the launch of a new joint venture, which will see Apollo committing €3.2 billion (USD$3.8 billion) to fund investments in expanding the transmission grid in Germany.
The new JV, to be operationally controlled by RWE, will hold and fund RWE’s 25.1% stake in Amprion, one of Germany’s four Transmission System Operators (TSO), which operates the transmission grid across seven German federal states, serving approximately 29 million people.
According to RWE and Apollo, the new JV …
