Apollo Strengthens Clean Energy Portfolio By Purchasing Eagle Creek Renewable Energy, 700MW Hydropower Platform Powering 260,000 Homes

Apollo has announced that its managed funds (“Apollo Funds”) have reached an agreement to acquire Eagle Creek Renewable Energy (“Eagle Creek” or the “Company”), a leading independent owner and operator of hydroelectric facilities in the United States. The financial terms of the transaction have not been disclosed.

Eagle Creek operates 85 hydroelectric facilities across 18 states, supplying renewable power to support rapidly growing energy demand from data center infrastructure and industrial sectors. Hydropower provides a low-carbon, reliable energy source with baseload capabilities. With a portfolio totaling nearly 700 MW, Eagle Creek is one of the largest and most diversified independent hydroelectric platforms in the country, generating enough electricity to power more than 260,000 homes.

Joseph Romeo, Partner at Apollo, highlighted the strategic value of the acquisition, saying, “The Eagle Creek team has built one of the leading independent hydro portfolios in the U.S., with a strong track record in safety and operational performance and a diversified footprint. We see significant opportunities to support the business in its next phase—further expanding the platform and providing reliable, clean power generation to meet growing demand. We look forward to leveraging our network and industry experience alongside this highly experienced team to accelerate growth.”

Neal Simmons, Chief Executive Officer of Eagle Creek, added, “We are incredibly proud of the platform our team has built, providing clean and reliable power to communities, utilities, and businesses across the U.S. With the support of the Apollo team, we look forward to strengthening operations and exploring new ways to meet the evolving needs of our customers.”

Since 2022, Apollo-managed funds and affiliates have committed, deployed, or arranged approximately $59 billion in energy transition-related investments, spanning energy, infrastructure, and industrial sectors. The transaction is expected to close in the first quarter of 2026 and is subject to customary closing conditions, including regulatory approvals.

BMO Capital Markets served as financial advisor, and Vinson & Elkins provided legal counsel to the Apollo Funds. This acquisition reinforces Apollo’s position as a major investor in the clean energy sector while strengthening Eagle Creek’s capacity to deliver sustainable, low-carbon electricity across the U.S.