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.


Nvidia Eyes $250B Guarantee for OpenAI’s Massive Ohio AI Data Center Project
AstraZeneca Q2 Earnings Beat Forecasts as Oncology Growth Supports 2026 Outlook
Serica Energy to Acquire Pharos Energy for £145.7M, Sending PHARP Shares Soaring
Nvidia Invests $1 Billion in Naver as South Korea AI Data Center Expansion Gains Momentum
Unilever Raises 2026 Sales Outlook After Strong Q2 Volume Growth
SK Hynix Q2 Profit Hits Record as AI Memory Chip Demand Fuels Growth
Tech Stock Positioning Nears Neutral as Investor Rotation Enters Final Phase, Deutsche Bank Says
Stellantis Sells Free2move Car-Sharing Business to Mutares to Strengthen Core Auto Strategy
TSMC Gradually Restarts Japan Chip Plant After Kumamoto Earthquake
Galp Shares Fall After Q2 EBITDA Miss Despite Profit Beat and Higher Dividend
Seagate Stock Jumps as AI-Fueled Earnings Beat and Strong FY2027 Outlook Impress Investors
Exosens H1 Profit Beats Forecasts as Defense Demand Drives Growth
BHP, Port Hedland Unions Fail to Reach Wage Deal as Negotiations Continue
X Challenges Australia’s Expanded Social Media Ban Enforcement Powers
Barclays Q2 Profit Beats Forecasts as Investment Banking Strength Offsets Higher Costs
TeamViewer Shares Fall Despite Profit Growth as ARR and Customer Base Decline 



