Apollo Plans Acquire Eagle Creek Hydroelectric Portfolio U.S.

Apollo Asset Management, Inc. announced that Apollo-managed funds have agreed to acquire Eagle Creek Renewable Energy, a leading independent owner and operator of 85 hydroelectric facilities across 18 states in the U.S. The acquisition, which is subject to customary closing conditions and regulatory approvals, is expected to close in the first quarter of 2026. Eagle Creek's portfolio, nearly 700 MW, is one of the largest and most diversified hydroelectric platforms in the country, producing enough electricity to power over 260,000 homes. Apollo sees significant growth potential in expanding this platform to provide reliable, clean power to meet increasing energy demand, especially from data centers and industrial sectors. The transaction aligns with Apollo's broader commitment to energy transition investments, having deployed approximately $59 billion since 2022. Financial terms of the deal remain undisclosed, and Apollo's financials show strong revenue but some concerns regarding financial strength metrics.