In another sign of the perceived emerging opportunities in the offshore wind industry, Apollo Global Management, which is seen as one of the investment industry’s leading alternative investment managers, announced that it has made a significant investment in the sector.
Apollo reported that through the funds it manages they had committed to invest up to $265 million in the offshore wind development company US Wind. Apollo will be funding development and construction costs associated with a major offshore wind energy project off the coast of Maryland. Founded in 2011, US Wind is majority owned by Renexia SpA, a renewable energy development company in Italy and a subsidiary of Toto Holding SpA. Read on.