With the increasing demand for clean energy and the urgent need to reduce greenhouse gas emissions, partnerships between renewable energy companies and investors are becoming more prevalent. Community solar projects, in particular, are gaining traction as they offer an innovative solution to expanding local access to clean, efficient power across the energy grid. Today, we’re excited to announce a significant partnership between Apollo Global Management and Bullrock Energy Ventures, two leading players in the renewable energy sector.
A New Era of Clean Energy
Apollo-managed funds have committed to fund up to $220 million for a new joint venture partnership with Bullrock related to a portfolio of community solar assets located in New York and New England. This partnership represents a significant investment in the development of Bullrock’s nearly 500 MW pipeline of renewable energy assets.
- 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 has developed nearly 500 MW of solar projects across New England, New York and the Midwest over the past decade
Key Highlights of the Partnership
- $100 million of Apollo’s equity commitment will fund the development of Bullrock’s pipeline of renewable energy assets
- The partnership will support local residents and businesses throughout the country with access to affordable clean energy
- Community solar represents an innovative solution to expanding local access to clean, efficient power across the energy grid
The partnership between Apollo and Bullrock underscores the growing demand for renewable energy and the need for innovative solutions to address the energy crisis. “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 Corinne Still, an Apollo Partner.
Bullrock’s Vertically Integrated Model
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.”
About Apollo and Bullrock
Apollo Global Management is a leading global alternative asset manager, while Bullrock Energy Ventures is a vertically integrated renewable energy investment platform. Both companies share a commitment to sustainable energy and innovative solutions to address the energy crisis.
- About Apollo: Apollo is a high-growth, global alternative asset manager
- About Bullrock: Bullrock is a vertically integrated renewable energy investment platform
A Brief Overview of the Companies
Apollo is a global alternative asset manager with a strong track record of investing in renewable energy and infrastructure projects. The company has committed, deployed or arranged over $58 billion in climate and energy transition-related investments over the past five years.
| About Bullrock | Bullrock Energy Ventures is a vertically integrated renewable energy investment platform |
| Key Developments | Bullrock has developed over 500 MW of solar projects across New England, New York and the Midwest over the past decade |
A Message from the Partners
“We are proud to work with Apollo and share our commitment to driving the industry forward,” stated Bullrock Chairman and Founder Gregg Beldock and Bullrock Managing Partner Amory Beldock. “Community solar lowers energy costs, improves grid resiliency and boosts local economies. We’re excited to partner with Apollo and accelerate the energy transition through our pioneering approach to development while supporting local communities and securing American energy independence.”
About Apollo’s Climate and Transition Investment Framework
Apollo’s Climate and Transition Investment Framework (CTIF) sets forth certain activities classified by Apollo as sustainable economic activities. The framework uses different calculation methodologies for different types of investments in equity, debt and real estate. Only investments determined to be currently contributing to an SEA in accordance with the CTIF are counted toward the targets.
About Apollo’s Asset Management Business
Apollo’s asset management business provides a suite of investment products and services to institutional investors. The company’s patient, creative and knowledgeable approach to investing aligns its clients, businesses and the communities it serves to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management.
About Bullrock Energy Ventures
Bullrock Energy Ventures is a vertically integrated renewable energy investment platform. The company has developed over 500 MW of solar projects across New England, New York and the Midwest over the past decade. Bullrock has deployed over $2B in capital across the clean energy space and is quickly moving to develop its 500 MW pipeline.
