Apollo and Standard Chartered PLC have established a long-term strategic alliance to expedite global financing for renewable energy, sustainable transition, and infrastructure. Through this agreement, Standard Chartered’s worldwide distribution capabilities are combined with Apollo’s origination capabilities.The two companies are focused on addressing the increasing demand for sustainable energy solutions and infrastructure projects across the globe.

The partnership between Apollo and Standard Chartered will primarily focus on clean energy and transition financing. Both companies are likely to commit a total of up to $3 billion across asset classes and sectors. 

Apterra’s Role in Financing Activities

Apterra, an Apollo-owned platform, will primarily handle the origination of the financing activities for the partnership. Apterra specializes in originating, structuring, and deploying debt capital for infrastructure transactions worldwide. As part of the partnership, Standard Chartered has acquired a minority stake in Apterra. The bank will also support the investment origination, further expanding Apterra’s capacity to manage clean energy and transition projects.

Also read: Second High-Level Dialogue on clean energy financing held ahead of COP29

Insights from Apollo’s Jim Zelter

Jim Zelter, Apollo Asset Management Co-President, expressed excitement about the partnership, noting that the global industrial renaissance is creating significant capital demands across next-generation infrastructure, sustainable power, and other transition assets. He added that this agreement would accelerate both firms’ financing and investment activity in these areas, and highlighted that Standard Chartered has been a long-time banking partner to Apollo.

Apollo’s Commitment to Clean Energy

Apollo’s Clean Transition Capital strategy has been instrumental in advancing clean energy investments. Over the last five years, Apollo has deployed more than $40 billion into energy transition and climate-related projects. The firm believes that demand for capital in these areas will grow substantially in the coming years, making this partnership a crucial step in meeting global clean energy goals.

Apterra’s Growth and Future Plans

Apterra, founded in 2023, has already executed more than $4.8 billion in transactions. The platform is poised to increase its growth trajectory with strategic support from Standard Chartered. Led by co-CEOs Ralph Cho and Michael Pantelogianis, Apterra is set to further strengthen its position as a key player in financing clean energy and infrastructure projects.

Standard Chartered’s Expertise

Standard Chartered is recognized as one of the world’s top infrastructure lenders, especially in Asia, Africa, and the Middle East. The bank enjoys a significant interest share in the renewable energy sector, while its cross-border and wealth management expertise allows it to support large-scale infrastructure projects across the globe.

The alliance between Apollo and Standard Chartered represents a landmark step toward hastening the funding of sustainable infrastructure and clean energy projects. By committing up to $3 billion and pooling both firms’ resources and expertise, this collaboration supports a global transition to a greener, low-carbon future.

The US Department of Energy‘s Office of Fossil Energy and Carbon Management has selected five projects that will receive a total of $101 million in federal funding for advancing CO2 capture, removal, and conversion technologies. The selected projects will target industrial facilities, including cement plants, and power generation operations. The initiative aligns with efforts to lower CO₂ emissions, create new jobs, and enhance US energy security.

Advancing Carbon Management Technologies

Brad Crabtree, Assistant Secretary of Fossil Energy and Carbon Management, said, “Carbon management technologies such as carbon capture can significantly reduce emissions from fossil energy use and key industrial processes, like cement production.”

He added, “By investing in test centers, we are helping reduce barriers to commercial scale deployment of carbon capture, conversion, and removal technologies that will ultimately help reduce pollution and create jobs.”

The projects establish test centers meant to evaluate how effective and economical the technologies aimed at capturing, removal, and CO2 conversion happen to be. The facilities intended to test as well as to scale carbon management using various feedstocks and real operational conditions. They are designed to test and scale carbon management technologies using diverse feedstocks and real-world operating conditions.

Selected Projects

The DOE funding will support five key initiatives aimed at advancing carbon management technologies. The University of Illinois will design a test center focused on carbon capture, removal, and conversion in the cement industry.

Holcim US plans to establish a Cement Carbon Management Innovation Center at its Hagerstown facility in Maryland, exploring feasibility and partnerships. Southern Company Services will continue operating the National Carbon Capture Center, testing CO₂ technologies under real-world power plant conditions.

The University of North Dakota Energy & Environmental Research Center will improve its test center to cost-efficiently evaluate carbon management technologies. The University of Wyoming will expand its test center to explore a broader range of carbon management technologies. This will include emissions from natural gas and industrial sources.

Also read: DOE Grants $1.67B Loan to Montana Renewables for SAF Production Expansion

Supporting Sustainable Energy Goals

These test centers are pivotal in advancing carbon management solutions, supporting a sustainable transition to cleaner energy. The DOE’s National Energy Technology Laboratory (NETL) will oversee the projects, which are contingent on budget appropriations.