Apollo to acquire Eagle Creek Renewable Energy

Apollo has announced that Apollo-managed funds (the “Apollo Funds”) have agreed to acquire Eagle Creek Renewable Energy, 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 has 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.

Apollo is a high-growth, global alternative asset manager. In its asset management business, the firm seeks to deliver excess returns for clients across the entire risk-reward spectrum—from investment-grade credit to private equity. For over three decades, Apollo’s fully integrated investment platform has served the financial return needs of its clients while providing innovative capital solutions to help businesses grow.

Through its retirement services business, Athene, Apollo focuses on helping clients achieve financial security by offering a suite of retirement savings products and serving as a solutions provider to institutions. The firm’s patient, creative, and experienced investment approach aligns the interests of its clients, the businesses it invests in, its employees, and the communities it serves—expanding opportunity and driving positive outcomes. As of June 30, 2025, Apollo had approximately $840 billion in assets under management.