Apollo provides $500 million financing to Adani Energy Solutions unit

Apollo Global Management (NYSE: APO) announced that Apollo-managed funds and affiliates purchased $500 million of investment-grade senior secured private placement notes from ATSOL Global IFSC Limited, a subsidiary of Adani Energy Solutions Limited.

ATSOL Global IFSC Limited is a subsidiary of Adani Transmission Step-One Limited, which operates as part of Adani Energy Solutions' power transmission network in Western and Northern India. The company stated the proceeds will primarily refinance bonds maturing in late 2026 and provide balance sheet flexibility for capital expenditure initiatives.

The financing supports ATSOL, described as an owner and operator of regulated transmission assets representing a portion of AESL's power transmission network. Adani Energy Solutions operates as one of India's private-sector power transmission and distribution companies.

"India represents a compelling infrastructure market globally with strong economic growth and long-term demand for reliable power generation," said Apollo Partner Jamshid Ehsani in the announcement.

Jugeshinder Singh, Adani Group CFO, stated the financing "reflects our disciplined capital management, in operation for over a decade now, with prudent maturity extension and consistent access to high-quality global capital."

Eiji Ueda, Partner and Head of Asia Pacific at Apollo, noted that India remains an attractive market for the firm, offering opportunities to support growth across infrastructure and energy sectors.

Latham & Watkins and Trilegal served as legal counsel to Apollo for the transaction. As of December 31, 2025, Apollo reported approximately $938 billion of assets under management.

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