Apollo Global Management will invest $265 million in offshore wind developer US Wind Inc. to fund the construction of an offshore wind project off the coast of Maryland.
Apollo's investment in US Wind was made out of its Apollo Infrastructure Opportunities Fund II, aiming to raise $3.5 billion from investors.
The investment, which includes both debt and equity, is Apollo's first foray into wind farming.
According to the US Energy Information Administration, wind power is the largest renewable energy source in the US, generating about 7.3 percent of the country's electricity supply.
Most of the wind energy in the US is generated onshore, but new wind power projects are being sited offshore due to limited land availability and growing conflicts with communities and landowners.
US Wind holds a lease on around 80,000 acres off the coast of Maryland that can host a capacity of 1.3 gigawatts.
For the first phase of the project, US Wind will build a 270-megawatt wind power plant that will supply electricity to75,000 Maryland homes by 2024.
US Wind is also rapidly expanding in other parts of the US and abroad.


Sodexo Raises 2026 Revenue Outlook After Strong Q3 Sales Beat
easyJet Agrees in Principle to £5.23 Billion Castlelake Takeover Offer
Foxconn Q2 Revenue Surges Nearly 40% on Strong AI Server Demand
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production
Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report
Tesla Q2 Deliveries Lift Chinese Auto Suppliers as EV Demand Improves
Meta CEO Zuckerberg Says AI Agent Development Has Slowed Despite Massive AI Investment
AI Memory Chip Shortage Likely to Persist Despite Korea Investment Boom, Nomura Says
Texas Man Charged After Fatal Tesla Full Self-Driving Crash in Katy
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says
BHP Workers Approve New Labour Agreement at WA Iron Ore Operations
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027
Super Micro Employees Detained in Taiwan AI Server Export Investigation 



