Apollo Commits $6B Debt to Hinkley Point C Nuclear Project UK - InforCapital

Apollo Global Management has agreed to provide £4.5 billion ($6.08 billion) in debt financing to support the construction of Hinkley Point C, the UK’s flagship nuclear energy project led by EDF.

This marks one of the largest private capital commitments to European energy infrastructure in 2025. The financing will be sourced from Apollo-managed funds, affiliates, and strategic accounts via fixed-rate callable notes issued by EDF, carrying an interest rate just under 7%.

Hinkley Point C is the UK’s first new nuclear power station in over two decades, consisting of two EPR reactors with a combined capacity of approximately 3,260 MW—enough to power six million homes. The plant is expected to operate for 60 years.

Construction began in March 2017. Major milestones include the dome lift on Unit 1 in December 2023 and the installation of reactor vessels and steam generators. Over 70% of equipment has already been delivered to the site.

The project’s original budget of £18 billion has ballooned to an estimated £46 billion due to delays, inflation, COVID-related issues, and the 2023 exit of China General Nuclear, which increased EDF’s funding responsibility. The expected completion date has shifted to between 2029 and 2031.

Hinkley Point C plays a vital role in the UK’s strategy for energy security, carbon neutrality, and job creation. The project is expected to generate up to 26,000 jobs at peak construction, support thousands of apprenticeships, and contribute around £13 billion to the UK economy.

Apollo’s investment helps fill the financing gap created by CGN’s exit and highlights the rising role of private credit in funding critical infrastructure projects, especially amid volatile public debt markets.

Earlier in 2025, Apollo launched a $3 billion partnership with Standard Chartered under the Clean Transition Capital platform to finance global clean energy infrastructure. Apollo has deployed over $14 billion in infrastructure investments since inception.

In a similar transaction, Apollo also backed a $1 billion private credit facility for PowerGrid Services in the U.S., reinforcing its growing role in supporting essential infrastructure assets globally.

The Hinkley Point C financing is Apollo’s largest private credit deal denominated in sterling and showcases its ability to provide flexible, large-scale capital for strategic infrastructure developments.