Apollo announced that funds managed by the firm have agreed to acquire Eagle Creek Renewable Energy, an independent owner and operator of hydroelectric facilities in the US. Terms of the deal were not disclosed.
Eagle Creek operates 85 hydroelectric plants across 18 states, with a total capacity of nearly 700MW. The company’s facilities generate enough electricity to power more than 260,000 homes.
“The Eagle Creek team have built one of the leading independent hydro portfolios in the US, 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.”
Neal Simmons, CEO of Eagle Creek, added: “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. 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.”
Apollo said its managed funds and affiliates have committed, deployed, or arranged about $59 billion in energy transition-related investments since 2022, spanning energy, infrastructure, and industrial sectors.
The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals and customary conditions.
BMO Capital Markets acted as financial advisor and Vinson & Elkins as legal counsel to Apollo Funds.
