During its recent 2025 Investor Day in Toronto, North American power producer Capital Power recently announced a memorandum of understanding with funds managed by affiliates of Apollo Global Management, forming a $3 billion partnership to pursue the acquisition of merchant natural gas assets across the United States.
The partnership combines the capital strength of Apollo Funds with Capital Power’s operating and commercial expertise. The agreement involves an equity commitment of up to $2.25 billion from Apollo funds and $750 million from Capital Power, with Capital Power electing a 25 percent to 50 percent working interest in each acquisition.
“We have a longstanding track-record of delivering industry leading returns from natural gas fueled power generation assets and an ability to acquire and optimize assets better than any other North American independent power producer,” said Avik Dey, president and CEO of Capital Power. “Now, more than ever, we see an opp
