Apollo Funds Form $220 Million Community Solar Joint Venture with Bullrock Energy Ventures
Apollo (NYSE: APO) and Bullrock Energy Ventures have announced a significant joint venture partnership where Apollo-managed funds will commit up to $220 million for community solar assets in New York and New England. The deal includes $100 million to fund Bullrock's nearly 500 MW pipeline of renewable energy assets.
Bullrock, a Vermont-based renewable energy company led by Chairman Gregg Beldock, has developed nearly 500 MW of solar projects across New England, New York, and the Midwest over the past decade. The company offers vertically integrated services including development, construction, financing, and asset management.
This partnership aims to expand local access to clean energy, benefiting individuals, households, and businesses. Apollo has committed approximately $58 billion to climate and energy transition-related investments over the past five years.
Apollo (NYSE: APO) e Bullrock Energy Ventures hanno annunciato una significativa partnership in joint venture, in cui i fondi gestiti da Apollo investiranno fino a 220 milioni di dollari in asset solari comunitari a New York e nel New England. L’accordo prevede 100 milioni di dollari per finanziare la pipeline di quasi 500 MW di asset di energia rinnovabile di Bullrock.
Bullrock, azienda di energie rinnovabili con sede nel Vermont guidata dal Presidente Gregg Beldock, ha sviluppato quasi 500 MW di progetti solari in New England, New York e Midwest nell’ultimo decennio. L’azienda offre servizi integrati verticalmente che comprendono sviluppo, costruzione, finanziamento e gestione degli asset.
Questa collaborazione mira ad aumentare l’accesso locale all’energia pulita, a beneficio di individui, famiglie e imprese. Apollo ha impegnato circa 58 miliardi di dollari in investimenti legati al clima e alla transizione energetica negli ultimi cinque anni.
Apollo (NYSE: APO) y Bullrock Energy Ventures han anunciado una importante asociación en joint venture, donde los fondos gestionados por Apollo comprometerán hasta 220 millones de dólares para activos solares comunitarios en Nueva York y Nueva Inglaterra. El acuerdo incluye 100 millones de dólares para financiar la cartera de casi 500 MW de activos de energía renovable de Bullrock.
Bullrock, una empresa de energía renovable con sede en Vermont y liderada por el presidente Gregg Beldock, ha desarrollado casi 500 MW de proyectos solares en Nueva Inglaterra, Nueva York y el Medio Oeste durante la última década. La compañía ofrece servicios integrados verticalmente que incluyen desarrollo, construcción, financiamiento y gestión de activos.
Esta alianza busca ampliar el acceso local a la energía limpia, beneficiando a individuos, hogares y negocios. Apollo ha comprometido aproximadamente 58 mil millones de dólares en inversiones relacionadas con el clima y la transición energética en los últimos cinco años.
Apollo (NYSE: APO)와 Bullrock Energy Ventures가 뉴욕과 뉴잉글랜드 지역의 커뮤니티 태양광 자산에 대해 Apollo가 관리하는 펀드가 최대 2억 2천만 달러를 투자하는 중요한 합작 투자 파트너십을 발표했습니다. 이 거래에는 Bullrock의 약 500MW 재생 에너지 자산 파이프라인에 1억 달러를 지원하는 내용이 포함되어 있습니다.
버몬트에 본사를 둔 재생 에너지 회사인 Bullrock는 회장 Gregg Beldock의 지도하에 지난 10년간 뉴잉글랜드, 뉴욕, 중서부 지역에서 약 500MW의 태양광 프로젝트를 개발해왔습니다. 이 회사는 개발, 건설, 금융, 자산 관리 등 수직 통합 서비스를 제공합니다.
이번 파트너십은 개인, 가정, 기업에 혜택을 주는 청정 에너지의 지역 접근성을 확대하는 것을 목표로 합니다. Apollo는 지난 5년간 기후 및 에너지 전환 관련 투자에 약 580억 달러를 약속했습니다.
Apollo (NYSE : APO) et Bullrock Energy Ventures ont annoncé un partenariat important en coentreprise, dans lequel les fonds gérés par Apollo s’engagent à investir jusqu’à 220 millions de dollars dans des actifs solaires communautaires à New York et en Nouvelle-Angleterre. L’accord comprend 100 millions de dollars pour financer le portefeuille de près de 500 MW d’actifs d’énergie renouvelable de Bullrock.
Bullrock, une entreprise d’énergie renouvelable basée dans le Vermont et dirigée par le président Gregg Beldock, a développé près de 500 MW de projets solaires à travers la Nouvelle-Angleterre, New York et le Midwest au cours de la dernière décennie. L’entreprise offre des services intégrés verticalement, incluant le développement, la construction, le financement et la gestion des actifs.
Ce partenariat vise à élargir l’accès local à l’énergie propre, au bénéfice des particuliers, des foyers et des entreprises. Apollo a engagé environ 58 milliards de dollars dans des investissements liés au climat et à la transition énergétique au cours des cinq dernières années.
Apollo (NYSE: APO) und Bullrock Energy Ventures haben eine bedeutende Joint-Venture-Partnerschaft angekündigt, bei der von Apollo verwaltete Fonds bis zu 220 Millionen US-Dollar in gemeinschaftliche Solarprojekte in New York und Neuengland investieren werden. Das Abkommen umfasst 100 Millionen US-Dollar zur Finanzierung der fast 500 MW umfassenden Pipeline erneuerbarer Energieanlagen von Bullrock.
Bullrock, ein in Vermont ansässiges Unternehmen für erneuerbare Energien unter der Leitung von Chairman Gregg Beldock, hat in den letzten zehn Jahren fast 500 MW Solarprojekte in Neuengland, New York und dem Mittleren Westen entwickelt. Das Unternehmen bietet vertikal integrierte Dienstleistungen, darunter Entwicklung, Bau, Finanzierung und Asset-Management.
Diese Partnerschaft zielt darauf ab, den lokalen Zugang zu sauberer Energie zu erweitern und so Einzelpersonen, Haushalten und Unternehmen zugutekommen. Apollo hat in den letzten fünf Jahren rund 58 Milliarden US-Dollar in klima- und energiewendebezogene Investitionen gesteckt.
- Secured $220 million funding commitment from Apollo Funds
- Development pipeline of 500 MW renewable energy assets
- Vertical integration reduces operational costs and improves efficiency
- Strategic expansion in high-demand Northeast markets
- None.
Insights
Apollo's $220M community solar JV with Bullrock expands their energy transition portfolio while creating localized clean energy infrastructure.
Apollo's
Community solar provides a unique value proposition in the renewable energy landscape by allowing multiple subscribers to benefit from a single solar installation without requiring rooftop ownership. This democratizes clean energy access while creating predictable cash flows from subscriber contracts – an attractive feature for institutional investors.
Bullrock's vertically integrated business model spanning development through asset management provides operational advantages in the fragmented community solar sector. Their decade-long track record developing nearly 500 MW across New England, New York and the Midwest demonstrates execution capability in competitive markets.
This transaction aligns with Apollo's broader climate investment strategy, which has already deployed approximately
NEW YORK and SOUTH BURLINGTON, Vt., April 23, 2025 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and Bullrock Energy Ventures (“Bullrock”) today announced that Apollo-managed funds (the “Apollo Funds”) have committed to fund up to
Based in Vermont, Bullrock is a high-growth renewable energy company with operations throughout the Northeast. The company’s vertically integrated model includes deal sourcing, underwriting, development, construction, financing and asset management. Bullrock, led by Chairman and Founder Gregg Beldock, alongside partner company NxtGenREA led by Mike Mills, has developed nearly 500 MW of solar projects across New England, New York and the Midwest over the past decade. The projects support local residents and businesses throughout the country with access to affordable clean energy.
“We are excited to partner with Gregg and the Bullrock team and invest in this scaled portfolio of solar assets that we believe will offer significant benefits to their surrounding communities,” said Apollo Partner Corinne Still. “Community solar represents an innovative solution to expanding local access to clean, efficient power across the energy grid, benefiting individuals, households and businesses alike. This partnership underscores Apollo’s commitment to serving as a leading capital provider supporting the energy transition, investing in companies and projects that serve the growing demand for diverse sources of power.”
Bullrock Chairman and Founder Gregg Beldock and Bullrock Managing Partner Amory Beldock stated, “Our partnership with Apollo enhances a leading vertically integrated renewables platform working to meet the growing demand for power while reinforcing American energy security. Our long history in construction and development paired with Apollo’s integrated platform positions us to efficiently scale our portfolio. Community solar lowers energy costs, improves grid resiliency and boosts local economies. Apollo shares our commitment to driving the industry forward and we’re proud to work with them.”
Over the past five years, Apollo-managed funds and affiliates have committed, deployed or arranged approximately
Tax Equity for the portfolio is arranged by Mike Mills through his company NxtGenREA.
Orrick, Herrington & Sutcliffe LLP served as legal to the Apollo Funds. Brown Rudnick LLP served as legal counsel to Bullrock.
i As of December 31, 2024. The firmwide targets (the “Targets”) to deploy, commit, or arrange capital commensurate with Apollo’s proprietary Climate and Transition Investment Framework (the "CTIF"), are (1)
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately
About Bullrock Energy Ventures
Bullrock Energy Ventures is a vertically integrated renewable energy investment platform. The company was born out of Bullrock’s long history across renewables, construction, real estate development and healthcare and NxtGenREA’s deep experience in solar development and tax equity financing. Bullrock has developed over 500 MW to date, deployed over
Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540
ir@apollo.com
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
communications@apollo.com
For Bullrock Energy Ventures:
ir@bullrockcorp.com
For Bullrock Media Contacts:
Patrick Lenihan
Gravity Strategic Partners
patrick@gravitystrat.com
201-819-9871
FAQ
How much is Apollo investing in the Bullrock Energy Ventures joint venture?
What is the size of Bullrock's renewable energy development pipeline under the APO partnership?
Where will the APO-Bullrock community solar projects be located?
How much has Apollo invested in climate and energy transition projects?
What services does Bullrock provide in its partnership with APO?
