The logo of the German power supplier RWE is pictured at the RWE headquarters in Essen, Germany, November 15, 2021. REUTERS
Sept 8 (Reuters) – RWE (RWEG.DE), said on Monday that investor Apollo Global Management (APO.N), agreed to contribute 3.2 billion euros ($3.75 billion) for future power-grid upgrades that arise from RWE’s 25.1% stake in German transmission system operator Amprion.
Power utility RWE said in a statement that the partners would establish a joint venture for RWE’s stake in Amprion to finance its future growth.
Apollo will inject its equity investment upfront and RWE will subsequently make reinvestments into Amprion through the JV to support its grid expansion programme.
The transaction is expected to close in the fourth quarter of 2025.
Amprion and three sector peers run Germany’s power grids, operating within a strict regulatory framework that requires upgraded power lines and equipment to support wind and solar energy.
Reporting by Cian Muenster and Ludwig Burger, Editing by Friederike Heine
