Finance
RWE taps investor Apollo for 3.2 billion euros in grid funding
Published by Global Banking and Finance Review
Posted on September 8, 2025
2 min readLast updated: January 22, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on September 8, 2025
2 min readLast updated: January 22, 2026
RWE partners with Apollo Global Management for a €3.2 billion investment to expand its power grid, enhancing renewable energy infrastructure.
(Reuters) - RWE said on Monday that investor Apollo Global Management had agreed to contribute 3.2 billion euros ($3.75 billion) for future power-grid upgrades that arise from its 25.1% stake in German transmission system operator Amprion.
Power utility RWE said in a statement that the partners would set up a joint venture to take over 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.
The German electricity grid needs large investments to keep up with the growth of renewable energy capacity and to help with the transition away from fossil fuels. The Dutch government, which controls Amprion's peer Tennet Germany, has also been looking for partners to cover investment needs.
Amprion in April committed to boosting investments in its networks to 36.4 billion euros in the five years to 2029, a 32.4% increase from the previous rolling five-year plan to 2028.
Amprion and three peers run Germany's power grids, relying on fees from private and corporate power users for revenues. They are governed by a regulatory framework that requires power line and equipment upgrades.
The companies would not disclose what percentage in the joint ventures Apollo would take.
Amprion said in a separate statement that the M31 investor group would continue to hold the remaining 74.9% stake in Amprion.
Apollo said the JV with RWE would offer "reliable and stable dividend returns from Amprion’s regulated asset base".
RWE said the deal would help it focus on its core activities of power generation, renewables, batteries and energy trading.
Under the transaction, which is expected to close in the fourth quarter of 2025, RWE will retain operational control of the JV and still consolidate the Amprion stake in its financial reporting.
(Reporting Tom Kaeckenhoff and Ludwig Burger, Editing by Friederike Heine and Kevin Liffey)
Apollo Global Management has agreed to contribute 3.2 billion euros ($3.75 billion) for future power-grid upgrades.
The joint venture will focus on taking over RWE's stake in Amprion to finance its future growth and grid expansion.
Amprion has committed to boosting investments in its networks to 36.4 billion euros over the next five years, a 32.4% increase from the previous plan.
The companies did not disclose what percentage Apollo would take in the joint ventures.
The transaction is expected to close in the fourth quarter of 2025.
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