Apollo purchases energy portfolio from GE Capital

• 5 years ago (2018-10-09)
• David Flin

North America 998 Renewables 751

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Apollo Global Management is buying a $1 billion energy portfolio, including unspecified assumed obligations, from GE Capital Energy Financial Services. The portfolio consists of around 20 renewable energy, natural gas-fired generation, and midstream energy infrastructure projects located primarily in the USA. The terms of the deal and a breakdown of the assumed obligations are not being disclosed.

The transaction is expected to close in Q4 2018, subject to customary conditions.

Alec Burger, President of GE Capital, said: “The sale of this equity portfolio … enables us to continue to deliver on our commitments and provide value to GE. The Apollo funds are an ideal buyer for these assets with a disciplined investment approach and experience managing complex alternative investments.”

GE Energy Financial Services will continue to invest in and structure third-party financial solutions for GE’s power and renewable energy customers globally.