Broad Reach Power — 21 GW utility-scale solar + storage portfolio across MT, CA, WY, TX (350 MW BESS operating; 880 MW under construction; 1.7 GW pipeline)
Apollo Funds agreed to acquire 50% stake from EnCap, Yorktown, and Mercuria; sellers retained 50%. Apollo + retained investors committed up to $400M additional equity for growth. Apollo joined the Board in December 2021. Houston-based BRP focused on ERCOT BESS — became one of largest US battery storage platforms. Later sold to ENGIE Aug 2023 for $1B+.
Undisclosed (plus up to $400M co-equity commitment)
Deal Value
21,000MW
Capacity
Storage
Technology
TX
Location
Deal Details
- Deal Type
- Minority Stake
- Seller / Sponsor
- EnCap Investments (with co-investors Yorktown Partners + Mercuria Energy retained 50%)
- Buyer / Financier
- Apollo Funds (Apollo Global Management)
- Deal Value
- Undisclosed (plus up to $400M co-equity commitment)
- Stage
- Operating + Development
- ISO/RTO
- ERCOT
- Source
- Apollo Global Management
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