Partnership Announcement
On 12 September 2025, RWE AG, Germany’s largest power producer, announced a joint venture with Apollo Global Management to inject €3.2 billion into Amprion GmbH, one of the country’s four major transmission system operators. The partnership is designed to accelerate the upgrade and expansion of Germany’s electricity grid, which is under immense pressure as the share of renewables rises. RWE will retain operational control, while Apollo provides long-term capital to scale
infrastructure at speed.
Strategic Context
Germany’s energy transition requires massive investment in transmission capacity to integrate rapidly growing solar and wind generation, particularly offshore wind in the North Sea. Bottlenecks in the grid have forced curtailment of renewable output, raising costs and slowing decarbonization progress. The RWE-Apollo deal is seen as a model for blending utility expertise with institutional capital to close the financing gap, while ensuring stability and technical reliability in grid operations.
Implications & Broader Impact
The agreement highlights how Europe is increasingly turning to public-private partnerships to fund energy infrastructure. For Germany, securing €3.2 billion in private capital helps relieve pressure on public finances while maintaining strategic oversight of critical infrastructure. More broadly, the deal underscores the scale of global capital flows into energy transition projects: grid upgrades, once considered low-return utilities, are now central to enabling decarbonization and electrification worldwide. If successful, this joint venture could serve as a blueprint for other EU member states facing similar grid challenges.