Apollo reveals $4bn clean energy plan

Apollo, the global alternative investment manager, has launched Apollo Clean Transition Capital (ACT Capital), a new investment strategy aimed at supporting companies’ transition to clean energy. ACT Capital has been launched with $4bn in capital from Apollo affiliates and strategic partners. The new strategy aims to provide “competitive, flexible, and patient financing” through yield and hybrid investments targeting opportunities in areas including energy transition, industrial decarbonisation, sustainable mobility, sustainable resource use, and sustainable real estate.

The new strategy follows the establishment of a sustainable investing platform by Apollo last year. The platform is focused on financing and investing in the energy transition and decarbonisation of industry. Apollo aims to deploy $50bn in clean energy and climate capital over five years and sees the opportunity to deploy over $100bn by 2030. So far, the platform has deployed more than $6bn, and Apollo said that the new strategy will work alongside the firm’s other strategies.

According to ESG Today, the ACT Capital investment strategy will invest in companies to provide capital for their transition to clean energy and sustainable industry. Apollo co-president Scott Kleinman said, “We believe ACT Capital is a premier financing solution for companies around the globe who require significant, flexible capital to support their energy transition efforts. We are thrilled to extend our long track record in this area and expand our commitment to driving a more sustainable future, recognizing the urgent need for climate capital deployment.”

Recently, Apollo has set a goal to achieve $2bn in diverse spending by the end of 2025.