Apollo to acquire US Wind stake for US$265m
17 August, 2020
Apollo Global Management has agreed to acquire a stake in American offshore wind energy development company US Wind.
The investment firm said that certain funds managed by its affiliates have committed to invest up to US$265m (£202.6m) in the offshore wind developer.
US Wind controls the Maryland Wind Energy Area of approximately 80,000 acres located 10 to 30 miles off Maryland’s coast that could accommodate around 1.3GW of offshore wind capacity.
The company is planning to build a 270MW wind farm under the first phase of the project, with operations planned for early 2024.