Apollo Global Management has agreed to provide £4.5bn ($6.08bn) in debt financing to support the construction of Hinkley Point C, the UK’s flagship nuclear energy project led by EDF, according to a report by Reuters.
The deal is one of the largest private capital commitments to European energy infrastructure in 2025.
The financing, which is one of the largest private capital commitments to European energy infrastructure in 2025, is being sourced from Apollo-managed funds, affiliates, and strategic accounts, and will be deployed through fixed-rate callable notes issued by EDF, the French utility overseeing the project.
The deal comes as EDF seeks to plug funding gaps amid cost overruns and delays that have plagued the project, which is now expected to be operational by 2029.
Hinkley Point C is the UK’s first new nuclear power plant in over two decades, central to the country’s drive for energy security, carbon neutrality, and industrial job creation. The project suffered setbacks after China General Nuclear exited in 2023, increasing EDF’s financing burden.
According to reports, Apollo’s capital will be issued as unsecured debt with an interest rate just under 7%, a relatively high return profile for long-duration infrastructure exposure.
