Apollo Global commits $150 million to FlexGen

Apollo Global continues to invest in renewable energies by committing $150 million to FlexGen and energy storage.|Apollo Global continues to invest in renewable energies by committing $150 million to FlexGen and energy storage.

Share:

Apollo Global Management continues to invest in renewable energy by committing $150 million to FlexGen.
This is an important investment in the integration of energy storage contributing to the development of FlexGen’s capacities.

Apollo Global develops large-scale energy storage

Funds managed by Apollo affiliates announce a $150 million capital commitment to FlexGen, a leading provider of integration services and software technology for energy storage solutions in the U.S. and worldwide.
Apollo’s investment will be made in partnership with FlexGen’s existing investors, Altira Group, the founding investment group led by Jerry Miller and Mark Dreyfus, Caterpillar Ventures and GE Ventures.

FlexGen deploys 1.2 GWh of storage

Since its inception in 2009, FlexGen has supported the deployment of over 1.2 GWh of energy storage systems in the U.S. and abroad for utility, microgrid and small business customers.
The company’s software platform enables energy storage system owners to deploy various electricity market strategies and combine storage solutions with any form of generation.

“Our collaboration with Apollo will accelerate FlexGen’s growth and the capabilities we can offer in the future, while establishing the bankability the market values when investing in energy storage. We are well positioned at the most critical intersection in the transition to clean energy: energy storage. We’ve spent the last decade building the most advanced integration solutions on the market – and now that market is ready to take off,” says FlexGen CEO Kelcy Pegler, Jr.

Several key investments

The investment in FlexGen follows on from Apollo’s previous investments in renewable energies.
Over the past 18 months, Apollo funds have invested in US Wind, a developer of offshore wind turbines.
They have created a new venture with Johnson Controls to provide sustainability and energy efficiency services.
Formed a joint venture to accelerate the growth of renewable energy royalty company Great Bay Renewables.
Also invested in electric gas compression company TOPS.
Then agreed to invest in sustainable bioenergy producer AS Graanul Invest.

A multi-billion dollar market

Energy storage represents a multi-billion dollar market at the heart of the energy transition.
The integration of energy storage requires software and technological solutions that play a key role in the adoption of large-scale renewable energies, by compensating for the intermittency and reliability problems that renewable energy production creates for the grid.

  • Populaires ​
The Indonesian-Chinese lithium-ion battery plant will open with 6.9 GWh in 2026
Renewable energy: access improving, but financing still insufficient for Africa
Enbridge Gas Ohio challenges tariff ruling cutting its revenues by $30mn
Natural hydrogen: France on the verge of redefining its national and European energy strategy
Iberdrola increases supplementary dividend by 16.5% to €0.409 per share
TotalEnergies sells 50% of its renewable assets in Portugal for €178.5mn
TotalEnergies is selling half of a 604 MW Portuguese energy portfolio to the Japanese consortium MM Capital, Daiwa Energy and Mizuho Leasing for €178.5mn, retaining operation and future commercialisation of the assets concerned.
Q ENERGY raises €109 million from BPCE Energeco for renewable projects
Q ENERGY France secures a bank financing of €109 million arranged by BPCE Energeco to build four new energy production facilities, totalling 55 MW of wind and solar capacity by the end of 2024.
Shell forced to amend two annual reports following EY’s compliance breach
Shell announces amendment of two annual reports after notification by Ernst & Young of non-compliance with SEC auditor partner rotation rules; however, financial statements remain unchanged.
Ecopetrol obtains authorization to expand its sustainable bond issuance program
The Financial Superintendency of Colombia approves an amendment to Ecopetrol’s local bonds and commercial paper program, enabling issuance of sustainable, indexed, or in-kind repayable instruments.
ABO Energy sells its Greek subsidiary to HELLENiQ ENERGY Holdings
ABO Energy is selling its subsidiary ABO Energy Hellas and an energy project portfolio of approximately 1.5 gigawatts to HELLENiQ ENERGY Holdings, thus refocusing its strategic resources towards other markets, notably Germany, without major financial impact anticipated for 2025.
BHP signs with COSCO to charter two ammonia-powered bulk carriers
BHP has signed contracts with COSCO Shipping to charter two ammonia-powered Newcastlemax bulk carriers, primarily for transporting iron ore between Western Australia and Northeast Asia starting from 2028.
CBAK Energy invests $357 million in Malaysia with Anker Innovations
CBAK Energy and Anker Innovations jointly launch a battery cell manufacturing facility in Malaysia, with a commercial potential estimated at $357 million, further strengthening their strategic partnership in the lithium-ion battery sector.
Badenova invests $4.64 billion to transform its energy infrastructure by 2050
German energy group Badenova plans to invest $4.64 billion in its energy networks and capacity by 2050, including $232 million committed from 2025, according to the company's recently published annual financial results.
ORIX sells 17.5% of Greenko for USD 1.28bn and invests in AM Green
ORIX announces the sale of the majority of its stake in Greenko to AM Green Power and commits a new USD 731mn investment in the Luxembourg-based AMG holding, confirming its strategic repositioning in next-generation energy.
Invenergy and Meta expand US portfolio with an additional 791 MW
Invenergy seals four further contracts with Meta to supply nearly eight hundred megawatts of solar and wind power to the group’s data centres, lifting total cooperation between the two companies to one point eight gigawatts.
Pedro Azagra takes helm at Iberdrola, Avangrid renews its leadership team
Pedro Azagra leaves his role as CEO of Avangrid to become CEO of Iberdrola, while Jose Antonio Miranda and Kimberly Harriman succeed him as CEO and Deputy CEO respectively of the American subsidiary.
Ares Management acquires 20% of Plenitude’s capital for 2 billion euros
The US investment fund Ares Management enters Plenitude's capital by acquiring a 20% stake from Eni, valuing the Italian company at 10 billion euros and reinforcing its integrated energy strategy.
Airbus selects ENGIE to decarbonise 22 industrial sites across Europe
ENGIE secures a contract to reduce Airbus' industrial emissions in France, Germany, and Spain, targeting an 85% decrease by 2030 through various local energy infrastructures.
Alain Rhéaume steps down as Chairman of Boralex’s Board of Directors
Alain Rhéaume, Chairman of Boralex’s Board of Directors for eight years, will leave his position by December, following the appointment of his successor by the governance committee of the Canadian energy group.
Statkraft announces $292 million cuts amid European financial pressures
Norwegian group Statkraft plans an annual cost reduction of NOK2.9bn ($292 million) by 2027, citing possible job cuts amid rising financial burdens and volatility in the European energy market.
EDF establishes EDF power solutions to consolidate international low-carbon activities
EDF merges EDF Renouvelables and its International Division into EDF power solutions, led by Béatrice Buffon, to optimise its global 31 GW low-carbon energy portfolio and strengthen its international positioning.
TotalEnergies and Mistral AI Launch AI Laboratory Focused on Industrial Optimization
TotalEnergies announces a strategic partnership with Mistral AI to establish a dedicated innovation laboratory integrating artificial intelligence tools aimed at enhancing industrial efficiency, research, and customer relations.
ETC warns of trade tensions linked to clean energy supply chains
The Energy Transitions Commission warns of economic risks tied to growing protectionism around clean technologies, while calling for global consensus on carbon pricing.
Baker Hughes sells sensor division to Crane for $1.15bn
Baker Hughes has reached an agreement to sell its precision sensor product line to Crane Company for $1.15bn, thereby refocusing its operations on core competencies in industrial and energy technologies.
Baker Hughes
KKR and PSP inject $2.82bn into AEP’s US transmission network
American conglomerate American Electric Power sold 19.9% of two transmission subsidiaries to KKR and PSP Investments, raising $2.82bn to support its five-year $54bn investment plan.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS