Federal Trade Commission documents reveal that Elon Musk has acquired energy company APR Energy in a deal valued at more than $1 billion, securing a fleet of mobile power generation assets that could support data-intensive operations including SpaceX's Starlink satellite network.
What Happened
Transaction number 202612350 lists Musk as the acquiring party, with CF APR Super Holdings LLC as seller and New APR Energy, LLC as the acquired entity. The deal closed without public announcement and came to light on May 14 through FTC filings. Analysts inferred its scale from minority stakeholder disclosures, including a report that a 5 percent interest sold for approximately $50.4 million. Fortress Investment Group had purchased APR's assets in late 2024, rebranded the operation as New APR Energy, before transferring ownership to Musk.
Why It Matters
APR Energy operates one of the world's largest fleets of mobile gas and diesel turbines with more than 1.1 gigawatts of generation capacity. Its modular, trailer-mounted units enable turnkey installations ranging from 20 MW to over 500 MW. The company serves data centers, utilities, and industrial clients, providing engineering, procurement, construction, operation, and maintenance services for behind-the-meter power plants. For SpaceX's Starlink operations, reliable on-site power generation addresses a critical infrastructure challenge: grid interconnections can face delays of two to five years in many markets. The acquisition gives Musk flexible generation assets deployable adjacent to data centers, reducing dependence on strained utility infrastructure while supporting the rapid scaling demands of AI training and compute-intensive satellite network management.
The Bottom Line
APR Energy has expanded aggressively to meet surging demand, recently deploying over 100 MW for a major AI hyperscaler. Musk's ownership of APR provides immediate access to deployable power assets that can complement SpaceX operations and support the energy-intensive supercomputing clusters needed for both xAI and Starlink network infrastructure expansion.