Apollo has agreed to sell its 25 percent stake in CPV Fairview Energy Center, a 1,050-megawatt power-generation company in Pennsylvania, to DL Energy.
The Apollo Funds invested in CPV Fairview in 2018. The firm said CPV Fairview is one of the most efficient gas units in the PJM-MAAC region and serves an increasingly critical role in helping Pennsylvania meet its energy demands while lowering energy costs and emissions.
As a result of the transaction, DL Energy will join CPV Fairview’s existing equity owners Competitive Power Ventures and Osaka Gas.
“We are proud to have supported CPV Fairview’s construction and operations to date as the facility helps Pennsylvania access cleaner, more reliable power while creating new, high-quality jobs,” said Trevor Mills, partner at Apollo. “CPV Fairview is well positioned to continue growing and serving the community under its existing and future new owners CPV, Osaka and DL Energy.”
The transaction is expe
