Williams Secures $5.34 Billion Growth Capital Joint Venture With Blackstone, Apollo and KKR
July 16, 2026
Williams has signed an agreement to receive $5.34 billion of committed capital for five behind-the-meter Power Innovation projects, serving AI infrastructure demand. Blackstone (with Apollo and KKR) will hold a 49% noncontrolling equity interest in the projects, while Williams retains 51% ownership and full commercial and operational control, including a buyout right exercisable between years seven and fourteen.
- Buyers
- Blackstone Credit & Insurance, Apollo, KKR
- Targets
- Williams (Power Innovation projects: Socrates, Apollo, Aquila, Socrates the Younger, Neo)
- Industry
- Energy
- Location
- Oklahoma, United States
- Transaction Type
- Growth capital
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