RWE and Apollo Global Management said they have completed a partnership agreement aimed at securing long-term financing for investments in Germany’s electricity transmission network.
The transaction centres on a newly created joint venture that holds RWE’s 25.1% stake in grid operator Amprion. Apollo has paid €3.2 billion for a share in the vehicle, the companies said.
RWE said it plans to reinvest the proceeds in Amprion over the next decade to support the company’s grid expansion programme. The utility retains operational control of the joint venture and will continue to manage its Amprion holding, which remains fully consolidated in RWE’s financial accounts.
Amprion operates transmission infrastructure across seven German federal states, supplying electricity to around 29 million people. The company is preparing major network expansions over the coming years as Germany upgrades critical energy infrastructure and advances its energy transition targets.
