How a US$3bn Deal Will Accelerate Global Renewable Energy

Apollo, a leading worldwide alternative asset manager, works with multinational banking giant Standard Chartered (SC) as part of a US$3bn partnership.
This joint venture is committed to providing global credit for infrastructure and energy transition, ultimately fostering advancements in renewable energy.
The financing operations for this collaboration will be managed by Apterra, a company owned by Apollo, which specialises in structuring, originating and deploying debt capital for infrastructure transactions across the globe.
The Eco-Conscious Path of Apollo
Apollo has progressively embraced sustainability and clean energy in recent years.
The firm has founded numerous initiatives aimed at expediting the shift to sustainable infrastructure and clean energy solutions.
Its notable Sustainable Investing Platform, launched in 2022, is designed to finance investments in energy transition and industry decarbonisation.
This platform aims to channel a staggering US$50bn into clean energy by 2027, with ambitions to extend this investment to over US$100bn by 2030.
The sheer volume of these investments is just one way the firm demonstrates its dedication to ecological and sustainable initiatives.
Jim Zelter, President of Apollo Global Management, explains: “The global industrial renaissance is creating unprecedented capital demands across next-gen infrastructure, sustainable power and other transition assets.
“This new agreement should accelerate our mutual financing and investment activity in these areas, and we are thrilled to do it in partnership with Standard Chartered, an important and long-time banking partner to Apollo’s franchise.”
The Apollo Clean Transition (ACT) investment strategy seeks to meet the extensive capital necessities essential for global energy transition.
Since 2019, Apollo-managed funds have strategically invested more than US$30bn into sustainability and infrastructure ventures.
Apollo aims to continue this dedication into the future, as evidenced by the US$10bn directed towards climate investments in 2023 alone.
Samuel Feinstein, Apollo Partner and President of ACT Capital, comments: “We believe this partnership with Standard Chartered will serve as a significant accelerant to the growth of Apollo’s Clean Transition business and support its broader Infrastructure Credit platform, which are critical components of our firm’s strategic growth plans.
"We are equally pleased to welcome Standard Chartered as an aligned equity partner in the growing Apterra platform and believe we can expand our work together over time to serve the evolving needs of our global client bases.
"Collectively, ACT Capital and Apterra represent significant opportunities for Apollo and Standard Chartered to access climate and infrastructure credit.”
Standard Chartered’s Sustainability Strategies
Standard Chartered has also been highly proactive in its sustainability goals.
The bank has committed to delivering US$300bn by the end of the decade for transition and green financing.
Between 2020 and 2024, SC committed to channelling US$35bn into clean technologies, already mobilising US$18.4bn in 2020.
The partnership with Apollo represents a significant element of SC's broader strategy to invest in green technologies and renewable energy sources.
Bill Winters, Group Chief Executive at SC explains: “This partnership with Apollo, a market leader in alternative asset management, is a great opportunity to leverage our collective sector expertise and innovative mindset to help finance sustainable growth.
“Standard Chartered and Apollo have complementary origination and distribution capabilities, which increase the scale of the financing we can jointly deploy, and the size of the projects in which we can participate.
“We are very pleased to build on our long-term partnership with Apollo to both expand our existing geographical coverage and mobilise capital to these critical parts of the global economy."
Along with partnering with Apollo, SC has taken other significant steps, like establishing a US$235m green loan facility in Texas for a solar photovoltaic manufacturing plant.
These initiatives are part of SC's broader commitment to achieve net zero from its financed emissions by 2050 and in its own operations by 2030, aligning with the goals set by the Paris Agreement.
Henrik Raber, Global Head at Global Banking at SC, said: “With the global growth in infrastructure financing, and our strong presence in the sector, we are delighted to partner with ACT Capital, participate in Apterra and collaborate with the Apollo team. This is an exciting opportunity alongside our existing advisory and financing capabilities.”
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