Williams has signed an agreement led by funds managed by Blackstone Credit & Insurance, in partnership with Apollo and insurance vehicles and accounts managed by KKR, to support the development of its five announced behind-the-meter Power Innovation projects: Socrates, Apollo, Aquila, Socrates the Younger and Neo. The advancement of Williams’ Power Innovation projects demonstrates the unique turnkey capability that Williams provides, with strong expertise across the full natural gas supply, delivery and power value chain, supported by more than 100 years of large-scale project execution capabilities.
Under the terms of the agreement, Blackstone and its partners will provide Williams with $5.34 billion of committed capital in exchange for a 49 percent noncontrolling equity interest in the five Power Innovation projects. The commitment includes $4.4 billion, representing 49 percent of expected total growth capital expenditures, and approximately $900,000 million of addit
