NEW YORK, Oct. 06, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed funds (the “Apollo Funds”) have agreed to acquire Eagle Creek Renewable Energy (“Eagle Creek” or the “Company”), a leading independent owner and operator of hydroelectric facilities across the U.S. Financial terms were not disclosed.

Eagle Creek owns and operates 85 hydroelectric facilities across 18 states, providing renewable power to support rapidly growing energy demand from data center infrastructure and the Industrial Renaissance in the U.S. Hydropower is differentiated as a low carbon reliable energy source with baseload capabilities. The Company’s nearly 700 MW portfolio makes it one of the largest and most diversified independent hydro platforms in the country, and its facilities produce enough electricity to power over 260,000 homes.

“The Eagle Creek team have built one of the leading independent hydro portfolios in the U.S., with a strong safety and performance track record and a diversified footprint,” said Joseph Romeo, Partner at Apollo. “We see significant opportunity to support the business in its next phase—further expanding the platform and providing reliable, clean power generation to meet the growth in demand. We look forward to bringing our network and significant industry experience to bear alongside this highly experienced team as we seek to accelerate growth.”

“We’re incredibly proud of the platform our team has built to date, providing clean, reliable power to communities, utilities and businesses across the U.S.,” said Neal Simmons, Chief Executive Officer of Eagle Creek. “With the Apollo team’s support, we look forward to building on that foundation, strengthening our operations and finding new ways to serve the growing needs of our customers.”

Since 2022, Apollo-managed funds and affiliates have committed, deployed, or arranged approximately $59 billion¹ of energy transition-related investments, supporting companies and projects across energy, infrastructure and industrial sectors.

The transaction is subject to customary closing conditions, including the receipt of regulatory approvals, and is expected to be completed in the first quarter of 2026.

BMO Capital Markets served as financial advisor and Vinson & Elkins served as legal counsel to Apollo Funds.

—

1. As of June 30, 2025. The firmwide target (the “Target”) to deploy, commit, or arrange capital commensurate with Apollo’s proprietary Transition Investment Framework (“TIF”) is more than $100 billion by 2030. The TIF, which is subject to change at any time without notice, sets forth certain activities classified by Apollo as Transition Activities, and the methodologies used to calculate contribution towards the Target. Only investments determined to be currently contributing to a Transition Activity in accordance with the TIF are counted toward the Target. Under the TIF, Apollo uses different calculation methodologies for different types of investments in equity, debt and real estate. For additional details on the TIF, please refer to our website here: https://www.apollo.com/strategies/asset-management/real-assets/sustainable-investing-platform

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2025, Apollo had approximately $840 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Investments in Electric Land and Solaria’s Generia Land represent the Platform’s inaugural transactions

NEW YORK – July 28, 2025 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the creation of JouleTerra, a land aggregation platform (“JouleTerra” or “the Platform”) dedicated to building a diversified portfolio of grid-connected sites with the ability to support the development of critical renewable energy infrastructure across Europe.

Through JouleTerra, Stonepeak will acquire and lease land to renewable operators under long-term contracts, allowing them access to land they would have otherwise had to procure and develop themselves through capital-intensive processes. Stonepeak intends to grow the Platform over time through acquisitions of both existing platforms and undeveloped land, for which it will secure appropriate permitting and grid connections until the land becomes ready-to-build. The firm’s two previously announced investments in Electric Land and Solaria’s Generia Land represent the Platform’s inaugural transactions.

Anthony Borreca, Senior Managing Director and Co-Head of Energy at Stonepeak, said, “While we continue to see surging demand for renewable energy generation across Europe, the availability of grid-connected, development-ready land able to support this infrastructure buildout continues to lag. Through JouleTerra, we are excited to broaden the availability of this critical resource, leveraging our extensive expertise in platform building and renewable energy investing to effectively support the renewables value chain.”

He added, “JouleTerra represents a compelling, first-mover opportunity for Stonepeak as platforms of this nature backed by a global network such as ours do not yet exist in Europe at scale. We look forward to expanding the Platform and playing a meaningful role in the development of critical energy transformation-related infrastructure in Europe over the long-term.”

Stonepeak has significant experience building and scaling platforms to support global energy transformation, employing an all of the above approach to investing in energy infrastructure. Select examples include Peak Energy, Synera Renewable Energy, and TerraWind Renewables, which are all dedicated to the development, ownership, and operation of renewable assets in Asia. Stonepeak has also supported the development and operation of distributed solar generation assets in North America through its platform Madison Energy Investments, which the firm fully realized in 2023. The two most recent platforms Stonepeak has launched are Lestari Cooling Energy, the firm’s joint venture with KJTS in Malaysia which will be dedicated to developing and investing in district cooling facilities in Southeast Asia, and Longview Infrastructure, a North American transmission development and investment platform.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include transport and logistics, digital infrastructure, energy and energy transition, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.

Contacts

For Stonepeak
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

ACEEF acquired this week 35% stake in its Spanish wind farms from Mutua Madrileña.
• The two projects, Ausines and Veciana, totals 56MW capacity and are located in Castilla y Leon and Catalonia regions respectively.
• The transaction enables ACEEF to further strengthen its global renewable energy platform and solidify its presence in Spain by securing full operational control—fully aligned with Ardian’s industrial approach to long-term value creation.

Series A funding led by AE Ventures; Margo de Naray joins Solestial as CEO

TEMPE, Ariz., Thursday May 15, 2025 — Solestial, Inc. (“Solestial”), the solar energy company for space, today announced a significant milestone with the closing of its $17M Series A funding round led by AE Ventures. The round welcomed new investors Crosscut Ventures, Zeon Ventures, and Mitsubishi Electric Corporation’s ME Innovation Fund (general partner: Global Brain Corporation), with participation from existing investors Airbus Ventures, General Purpose Venture Capital, Industrious Ventures, Stellar Ventures, and Techstars.

The Series A funding enables Solestial to continue scaling its manufacturing capacity of silicon photovoltaics to 1 megawatt per year, a rate comparable to the estimated annual manufacturing capacity of all US and EU III-V space solar companies combined.

Alongside the raise, Solestial also announced the appointment of Margo de Naray as Chief Executive Officer. De Naray, formerly Senior VP & GM of Space Products and Services at Astra, brings 20 years of extensive commercial and operations management experience in growth and high-tech environments. Founding CEO, Stanislau Herasimenka, will assume the role of Chief Technology Officer to focus on advancing the company’s product roadmap and rapidly scaling operations technology.

“We are thrilled to welcome Margo to lead Solestial into its next chapter,” said Herasimenka. “This transition allows me to continue developing our cutting-edge technology, while Margo brings additional strategic leadership and operational experience to deliver at scale.”

De Naray joins Solestial amid strong momentum. “We’re seeing tremendous market demand, and we are focused on delivering high-quality products,” she said. “We’re hiring, scaling production, and qualifying our technology, which is already deployed on multiple missions in space.”

“Space solar is a critical bottleneck in a rapidly growing industry with an ever-expanding set of missions—from national security to lunar exploration,” said Beckett Jackson, Partner at AE Ventures. “Solestial is uniquely positioned to serve spacecraft manufacturers with mass production of a lightweight, radiation-hardened solution at lower cost and a fraction of the lead time of the current standard.”

The only space solar manufacturer with demonstrated ability to self-heal radiation damage, Solestial offers spacecraft manufacturers the ability to significantly reduce cost and weight without sacrificing energy needs or performance.

“Solestial continues to revolutionize low-cost, lightweight solar power for space. Stan’s continued focus on the technical breadth of Solestial products and Margo’s new addition as a leader of the team are the ingredients to unlock the next phases growth and success,” said Mat Costes, Partner at Airbus Ventures. “We are also thrilled to welcome new investors and see investors from the seed round returning, collectively signifying what we all know—the market applications for this technology are robust, fast accelerating, and Solestial is ready to meet market demand.”

“Our colleagues at Mitsubishi Electric Corporation have been working with Solestial for a number of years to evaluate the potential of Solestial’s technologies,” said Komi Matsubara, Executive Officer (Associate), Vice President, Business Innovation at Mitsubishi Electric Corporation. “We see tremendous potential in Solestial’s technology and are pleased to deepen the relationship and support their development.”

With strong customer demand, Solestial has prioritized scaling production. Since opening its Tempe, Arizona manufacturing facility in 2023, the company has added square footage each year, more than doubled its workforce, and delivered commercial products to dozens of companies.

About Solestial
Solestial exists to deliver abundant energy in space. The company’s breakthrough technology is a silicon solar cell engineered for space to self-cure radiation damage under sunlight at operating temperatures as low as 65°C. Solestial solar cells are packaged in an ultrathin, low-mass, flexible solar power module designed to withstand up to 10 years in a variety of destinations in space. The flexible solar power modules can be produced on automated machines resulting in costs lower than traditional III-V multijunction solar products.

From today’s satellite constellations and research projects to tomorrow’s lunar settlements and services in space, Solestial’s innovative technology represents a paradigm shift for space solar; an affordable, scalable solution to power sustained development. Solestial is a US company manufacturing solar cells and flexible solar power modules in Tempe, Arizona. To learn more, visit the Solestial website and follow Solestial on social media.

About AE Ventures
AE Ventures is the venture capital platform of AE Industrial Partners, a private investment firm with $6.4 billion of assets under management, focused on highly specialized markets including national security, aerospace and industrials. AE Ventures has completed over 50 investments in early-stage companies that benefit from the deep industry knowledge, operating experience, and network of relationships across the sectors where the firm invests.

About Airbus Ventures
Airbus Ventures operates in service of deeptech entrepreneurs who are inspired to design, build, and service complex engineering products capable of unlocking entirely new economies.

About Mitsubishi Electric Corporation
With more than 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 5,257.9 billion yen (U.S. $34.8 billion*) in the fiscal year ended March 31, 2024. For more information, please visit www.MitsubishiElectric.com.

*U.S. dollar amounts are translated from yen at the rate of ¥151 = U.S. $1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2024.

• Stonepeak has agreed to acquire a 46.3% stake in Repsol’s 777 MW portfolio across New Mexico and Texas for $340 million.
• The transaction values the solar and battery energy storage portfolio at $735 million. Repsol previously raised $60 million in tax equity proceeds for this portfolio, bringing the total value to approximately $795 million.

Repsol announced that it will be joining forces with Stonepeak as its first partner in a portfolio of renewable assets in the United States. Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, has agreed to invest $340 million to acquire a 46.3 percent stake from Repsol in a 777 MW operating solar and storage portfolio located in New Mexico and Texas. Together with the $60 million in tax equity previously raised (through Investment Tax Credits, ITC), this transaction values the portfolio of solar plants and batteries at approximately $795 million.

The portfolio includes the Frye solar project and the Jicarilla solar and storage complex. Completed in 2024 and located near the town of Kress in Swisher County, Texas, Frye represents Repsol’s largest photovoltaic plant in operation to date with an installed capacity of 632 MW. The Jicarilla solar and storage complex is located in Rio Arriba County, New Mexico, and has an installed solar capacity of 125 MW and a battery storage project of 20 MW / 80 MWh. All of the projects have entered into long-term revenue contracts as part of the multi-energy company’s strategy to ensure the long-term profitability of the portfolio.

With this transaction, Repsol is advancing the optimization of the financial structure of its renewable business with partners joining the assets to maximize value generation.

“We are very proud to start a partnership with Stonepeak in our first renewable asset rotation in the US market,” said João Costeira, Executive Managing Director of Low Carbon Generation at Repsol. “Once again, our portfolio has confirmed its attractiveness to leading investors, validating our strategy on renewables,” he added.

Anthony Borreca, Senior Managing Director at Stonepeak, said, “This investment represents another important step in delivering much-needed cost effective and sustainable electricity to our domestic power grid at a time when communities need it most. Repsol is an extremely well-respected company globally, and we look forward to deepening our partnership with them in the coming years.”

This is the sixth asset rotation that Repsol has completed since November 2021. The company has also established alliances with Crédit Agricole Assurances and EIP in the renewable generation business to boost its growth.

Repsol currently has close to 4,000 MW in operation and a global project portfolio of 60,000 MW in various stages of development. In the United States, in addition to the portfolio, it also owns the Outpost PV project in Texas (629 MW), which is currently partially entering into operation, and which will bring the company’s total installed operating capacity to 1,406 MW once fully operational. In addition, Repsol also owns two additional solar facilities under construction in Texas – Pinnington (825 MW) and Pecan Prairie (595 MW).

The transaction is expected to close during the third quarter of 2025, subject to customary regulatory approvals. Nomura Greentech served as exclusive financial advisor and Latham & Watkins served as legal counsel to Repsol. Greenhill & Co., LLC, a Mizuho affiliate, served as the exclusive financial advisor and Vinson & Elkins LLP acted as legal counsel to Stonepeak.

Repsol Press Contact
Tel. + 34 91 753 87 87
prensa@repsol.com
www.repsol.com

Stonepeak Press Contact
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

About Repsol
Repsol is a multi-energy company that can meet all the energy needs of its customers at home and on the move. It employs 25,000 people in more than twenty countries and has 24 million customers. Its extensive network of 4,500 service stations supplies fuels in Spain, Portugal, Peru, and Mexico and is incorporating alternatives such as electric recharging, 100% renewable fuels, AutoGas, and vehicular natural gas. It has 2.5 million electricity and gas customers in Spain and Portugal and is the fourth largest electricity market operator in Spain. In addition, it has a diversified renewable generation portfolio, with an installed capacity of close to 4,000 MW, mainly in Spain, the United States, and Chile. It produces an average of 571,000 barrels of oil equivalent per day and has one of the most efficient refining systems in Europe. Repsol is transforming its six industrial complexes in the Iberian Peninsula into multi-energy hubs, capable of treating a wide variety of raw materials and waste to manufacture products with a low carbon footprint, such as 100% renewable fuels, which will be key to achieving its goal of becoming a net-zero emissions company by 2050.

Forward-looking statements
This press release contains “forward-looking statements”, within the meaning of applicable U.S. and Australian securities laws, including with respect to market conditions, results of operations and financial condition, including, for example, but not limited to, statements regarding the transaction (including statements concerning the timing and completion of the transaction, the expected benefits of the transaction and other future arrangements between Stonepeak and Repsol), expectations regarding future expenditures and future results.

All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as ‘opportunity’, ‘guidance’, ‘foresee’, ‘likely’, ‘potential’, ‘anticipate’, ‘believe’, ‘aim’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘target’, ‘plan’, ‘forecast’, ‘project’, ‘schedule’, ‘will’, ‘should’, ‘seek’ and other similar words or expressions. Forward-looking statements in this press release are not guidance, forecasts, guarantees or predictions of future events or performance but instead represent expectations, estimates and projections regarding future events or circumstances. Those statements and any assumptions on which they are based are only opinions, estimates and assumptions that we considered appropriate and reasonable as of the date such information is stated and are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements.

Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements. All information included in this press release, including any forward-looking statements, speak only as of the date of this press release and neither Stonepeak nor Woodside undertake to update or revise any information or forward-looking statements contained within, whether as a result of new information, future events, or otherwise, except as required under applicable U.S. or Australian securities laws.

NEW YORK and SOUTH BURLINGTON, Vt., April 23, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Bullrock Energy Ventures (“Bullrock”) today announced that Apollo-managed funds (the “Apollo Funds”) have committed to fund up to $220 million for a new joint venture partnership with Bullrock related to a portfolio of community solar assets located in New York and New England. $100 million of Apollo’s equity commitment will fund the development of Bullrock’s nearly 500 MW pipeline of renewable energy assets.

Based in Vermont, Bullrock is a high-growth renewable energy company with operations throughout the Northeast. The company’s vertically integrated model includes deal sourcing, underwriting, development, construction, financing and asset management. Bullrock, led by Chairman and Founder Gregg Beldock, alongside partner company NxtGenREA led by Mike Mills, has developed nearly 500 MW of solar projects across New England, New York and the Midwest over the past decade. The projects support local residents and businesses throughout the country with access to affordable clean energy.

“We are excited to partner with Gregg and the Bullrock team and invest in this scaled portfolio of solar assets that we believe will offer significant benefits to their surrounding communities,” said Apollo Partner Corinne Still. “Community solar represents an innovative solution to expanding local access to clean, efficient power across the energy grid, benefiting individuals, households and businesses alike. This partnership underscores Apollo’s commitment to serving as a leading capital provider supporting the energy transition, investing in companies and projects that serve the growing demand for diverse sources of power.”

Bullrock Chairman and Founder Gregg Beldock and Bullrock Managing Partner Amory Beldock stated, “Our partnership with Apollo enhances a leading vertically integrated renewables platform working to meet the growing demand for power while reinforcing American energy security. Our long history in construction and development paired with Apollo’s integrated platform positions us to efficiently scale our portfolio. Community solar lowers energy costs, improves grid resiliency and boosts local economies. Apollo shares our commitment to driving the industry forward and we’re proud to work with them.”

Over the past five years, Apollo-managed funds and affiliates have committed, deployed or arranged approximately $58 billionⁱ of climate and energy transition-related investments, supporting companies and projects across clean energy and infrastructure.

Tax Equity for the portfolio is arranged by Mike Mills through his company NxtGenREA.

Orrick, Herrington & Sutcliffe LLP served as legal to the Apollo Funds. Brown Rudnick LLP served as legal counsel to Bullrock.

ⁱ As of December 31, 2024. The firmwide targets (the “Targets”) to deploy, commit, or arrange capital commensurate with Apollo’s proprietary Climate and Transition Investment Framework (the “CTIF”), are (1) $50 billion by 2027 and (2) more than $100 billion by 2030 The CTIF, which is subject to change at any time without notice, sets forth certain activities classified by Apollo as sustainable economic activities (“SEAs”), and the methodologies used to calculate contribution towards the Targets. Only investments determined to be currently contributing to an SEA in accordance with the CTIF are counted toward the Targets. Under the CTIF, Apollo uses different calculation methodologies for different types of investments in equity, debt and real estate. For additional details on the CTIF, please refer to our website here: https://www.apollo.com/strategies/asset-management/real-assets/sustainable-investing-platform.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

About Bullrock Energy Ventures

Bullrock Energy Ventures is a vertically integrated renewable energy investment platform. The company was born out of Bullrock’s long history across renewables, construction, real estate development and healthcare and NxtGenREA’s deep experience in solar development and tax equity financing. Bullrock has developed over 500 MW to date, deployed over $2B in capital across the clean energy space, and is quickly moving to develop its 500 MW pipeline. Our success is a testament to our uniquely integrated model which allows us to build, operate, finance and manage energy assets at scale. We are proud to accelerate the energy transition through our pioneering approach to development while supporting local communities and securing American energy independence.

Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540
IR@apollo.com.

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
Communications@apollo.com.

For Bullrock Energy Ventures:

ir@bullrockcorp.com

For Bullrock Media Contacts:

Patrick Lenihan
Gravity Strategic Partners
patrick@gravitystrat.com
201-819-9871

NEW YORK and ARLINGTON, Va., April 11, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Summit Ridge Energy, LLC (“Summit Ridge Energy” or “Summit Ridge”), one of the nation’s leading commercial solar companies, today announced that Apollo-managed funds (the “Apollo Funds”) have committed up to $400 million for a new joint venture partnership with Summit Ridge to jointly own and operate a portfolio of commercial solar assets across Illinois.

Summit Ridge Energy is one of the largest owner-operators of commercial solar assets in the United States, with over 2GW of solar projects operating and in development across Illinois, Maryland, Virginia, New York, Delaware, Pennsylvania and Maine, providing energy savings to more than 40,000 homes and businesses while contributing to American energy independence. In 2022, Apollo Funds previously made a $175 million strategic investment in Summit Ridge.

Apollo Partner Corinne Still said, “We are pleased to expand our relationship with Summit Ridge Energy and enter this new partnership, which we believe represents a compelling opportunity to invest in solar projects poised to contribute domestic power generation capacity to meet growing electricity demands for households and businesses alike. Apollo is committed to serving as a leading capital provider enabling the new industrial renaissance and is excited to continue our support of Summit Ridge’s mission to deliver a more secure, self-reliant energy future for communities across the country.”

“As we expand our footprint of solar assets, Summit Ridge Energy is advancing a more reliable and locally driven energy system—bolstering the U.S. electric grid while delivering savings to businesses and households and helping to create thousands of American jobs,” said Adam Kuehne, Chief Investment Officer of Summit Ridge Energy. “We’re proud to partner with the Apollo team as we continue driving the nation toward greater energy independence.”

Over the past five years, Apollo-managed funds and affiliates have committed, deployed or arranged approximately $58 billionⁱ of climate and energy transition-related investments, supporting companies and projects across clean energy and infrastructure.

Orrick, Herrington & Sutcliffe LLP served as legal counsel to the Apollo Funds.

^{____________________
i} As of December 31, 2024. The firmwide targets (the “Targets”) to deploy, commit, or arrange capital commensurate with Apollo’s proprietary Climate and Transition Investment Framework (the “CTIF”), are (1) $50 billion by 2027 and (2) more than $100 billion by 2030 The CTIF, which is subject to change at any time without notice, sets forth certain activities classified by Apollo as sustainable economic activities (“SEAs”), and the methodologies used to calculate contribution towards the Targets. Only investments determined to be currently contributing to an SEA in accordance with the CTIF are counted toward the Targets. Under the CTIF, Apollo uses different calculation methodologies for different types of investments in equity, debt and real estate. For additional details on the CTIF, please refer to our website here: https://www.apollo.com/strategies/asset-management/real-assets/sustainable-investing-platform.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

About Summit Ridge Energy   

As the nation’s leading commercial solar company, Summit Ridge Energy merges financial innovation and industry-leading execution to deliver locally generated energy via a more resilient and secure electric grid. This has made Summit Ridge one of the fastest-growing energy companies in America, with over 2 GW of solar power operating and in development.

Since launching in 2017, Summit Ridge has raised over $5B in project capital to finance 200+ solar farms, providing energy savings to more than 40,000 homes and businesses while contributing to American energy independence. Learn more at srenergy.com and connect with us on LinkedIn.

Contacts

For Apollo:

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540
ir@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
communications@apollo.com

For Summit Ridge Energy:

Media

347-723-7231

press@srenergy.com

Business Development

business@srenergy.com