Apollo Global Management, Inc. and Arthur Kill Terminal LLC have signed into a deal for the exclusive right to invest in the Arthur Kill Terminal project, a large offshore wind energy staging and assembly facility under construction on Staten Island, New York. Atlantic Offshore Terminals, located in New York, will lead the development of Arthur Kill Terminal. AKT is expected to start operations in late 2025 and, if successful, will accelerate investment across the offshore wind supply chain in the area and the United States.
The successful development of Arthur Kill Terminal would ensure that there is enough staging port capacity to build New York’s target of at least 9,000 megawatts of offshore wind by 2035, as well as support the use of jack up vessels, floating foundations, and other emerging offshore wind technologies on the East Coast. Apollo has extensive experience investing in wind and other renewable energy projects, and their combined expertise will help develop and run the clean energy infrastructure project effectively and sustainably.
The Arthur Kill Terminal project is consistent with Apollo’s experience in renewable energy infrastructure and the company’s commitment to strong environmental, social, and governance standards. Apollo is an alternative asset management and they have handled investments worth $461 billion.