Joint Venture Formation
RWE and Apollo Global Management have finalized a joint venture involving RWE's 25.1% stake in Amprion, one of Germany's four Transmission System Operators. This partnership was established to secure long-term funding for Amprion's grid expansion.
Investment Details
Apollo has invested €3.2 billion in equity, which will be jointly reinvested by RWE and Apollo into Amprion over the next decade. This investment aims to support Amprion's significant grid expansion plans.
Operational Control
RWE retains operational control over the joint venture and continues to manage the Amprion stake. The joint venture will be consolidated in RWE's financial statements.
Amprion's Role
Amprion operates the transmission grid across seven German federal states, serving approximately 29 million people. The planned grid expansion is crucial for enhancing Germany's energy infrastructure and supporting the country's energy transition goals.
