Apollo, a global alternative asset manager, acquired a 50% stake in TotalEnergies’ Texas solar and battery energy storage portfolio. The portfolio includes 2 GW of renewable energy assets in the ERCOT market. The portfolio includes 1.7 GW of solar capacity and 300 MW of battery storage, featuring projects like Danish Fields, Cottonwood, and Hill Solar I. TotalEnergies will retain the other 50% stake and continue operating the assets. Apollo’s investment supports its Clean Transition strategy, which targets $50 billion in clean energy investments by 2027. The transaction is expected to close in Q4 2024.
Apollo acquires 50% stake in Texas solar and BESS portfolio
Apollo and TotalEnergies collaborate on 1.7 GW solar and 300 MW storage projects in Texas. (Image Credit/Source: fietzfotos/Pixabay)
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