Giant Steps Towards Energy Transition: Apollo Global and Standard Chartered Form Billion-Dollar Partnership

Apollo Global Management and the renowned British bank Standard Chartered have announced a strategic partnership to finance infrastructure projects, renewable energy, and the transition to a low-carbon economy. Together, they plan to invest up to 3 billion dollars, primarily through the provision of debt capital. Apollo, which has already invested over 40 billion dollars in energy transition and climate-related investments, is building on previous alliances with international banks like BNP Paribas and Citigroup with this collaboration. Previous investments include projects with Wolfspeed, the leading manufacturer of silicon carbide technology, and the renewable gas producer Opal Fuels. Apollo considers the energy transition, which involves the shift to less carbon-intensive energy sources and the restructuring of sectors such as food, transportation, and industry, to be capital-intensive. Jim Zelter, Co-President of Apollo, emphasizes that the global capital requirements for the next generation of infrastructure and sustainable energy are enormous. Private markets are increasingly becoming key players in financing the energy transition, as they can better support long-term business transformations compared to public markets, which are often driven by short-term reporting periods. The partnership between Apollo and StanChart is expected to be supported by Apterra, a platform by Apollo specializing in infrastructure lending. Standard Chartered has also acquired a minority stake in this platform and is offering a secured credit line to support project and infrastructure loans.