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Powering the Future: Apollo’s 700 MW Hydropower Acquisition Marks Major Step in U.S. Energy Transition

Apollo-managed funds have announced an agreement to acquire Eagle Creek Renewable Energy, a leading independent operator of hydroelectric power facilities in the United States. The transaction is expected to close in the first quarter of 2026, subject to customary approvals.

Eagle Creek Renewable Energy currently owns and operates 85 hydropower facilities across 18 states, with a total generation capacity of nearly 700 MW. The company’s operations supply renewable, low-carbon electricity capable of powering more than 260,000 homes nationwide. Its diverse portfolio positions it among the largest independent hydropower platforms in the country, playing a critical role in meeting the growing energy demands of data centers and industrial users.

Highlighting the significance of the acquisition, Joseph Romeo, Partner at Apollo, stated:

“The Eagle Creek team has built one of the most successful independent hydro portfolios in the U.S., backed by a strong safety record and consistent operational performance. We see substantial potential to expand this platform and continue delivering reliable, clean power to meet increasing demand.”

Neal Simmons, CEO of Eagle Creek, added:

“Our team has developed a solid foundation in clean and dependable hydropower generation. Partnering with Apollo will enable us to strengthen operations, enhance efficiency, and further support our customers’ growing energy needs.”

Since 2022, Apollo-managed funds and affiliates have committed or arranged over USD 59 billion toward energy transition investments, spanning sectors such as renewable energy, infrastructure, and industrial decarbonization.