New jersey based
Energy Capital Partners has announced a multimillionary collaboration with Abu Dhabi Sovereign Wealth Fund Adq to develop energy projects to meet the growing need for energy Data and industrial centers in the United States
ADQ and ECP said that their joint company is expected to invest up to $ 25 billion in energy and energy infrastructure of energy and energy infrastructure, aimed at the increasing demand for electricity of energy intensive data centers, that is, for greater use of artificial intelligence.
A sensat due to an initial capital commitment of $ 5 billion from both partners, the collaboration plans to focus mainly on the North -American Market with the aim of developing 25 GW of energy generation projects. The investment strategy prioritizes Greenfield’s developments, new constructions and expansion projects to ensure a stable energy supply for large -scale cloud computing and industrial electrification, according to a statement.
Doug Kimmelman, founder and executive chairman of the ECP, said that the company’s main priority will be to build a new generation of natural gas energy to meet the needs of “hyperscalers” – comparties like Amazon or Google – that will offer massive computer services and services.
“AI will be one of the main engines of the economic growth and the U.S. work for the next decade, but not unless new electricity supplies are developed,” Kimmelman said in a statement. The joint company with ADQ, he added, “will provide the electrical resources required by the Fast -growing AI data center sector.”
The American Power Power Association estimates that the demand of the United States Data Center will almost triple by 2030, promoting more than $ 1 trillion in investments to meet this need. These data centers are crucial to feeding the AI advanced technology, and only 4.4% of the U.S. electricity total in 2023, according to a report by the United States Department of Energy published in December.
This figure could reach 12% by 2028, according to the report.
The ADQ Capital Energy Agreement with ADQ arrives a few months after the firm launched a strategic collaboration of $ 50 billion with the KKR global investment signing aimed at accelerating the development of data centers, providing energy generation and the transmission infrastructure needed to support the use of clouds and cloud computing.
“The data demand of the data center … will not be satisfied without the proper infrastructure in its place, which is essential to promoting productivity, supporting electrification and helping countries to create a competitive advantage in AI,” said Joe Bae, executive director of KKR in a statement. “At the same time, the scale of this critical mission infrastructure must be done affordable, reliably and sustainable, while the needs of all interested parties, from technology companies to end consumers.”
In addition to private investment, federal financing through the Chips and Sciences Law of 2022, the Law of Investment and Investment in Infrastructures of 2021 and the Act of Inflation Reduction of 2022 also act as a catalyst for the development of additional energy infrastructure necessary for the advanced processing of computer data.
Founded in 2005, Energy Capital Partners has been owned, controlled and operated on more than 83 GW of energy generation through the United States Energy Markets, including natural gas, geothermal, hydroelectric, solar, wind, battery storage and energy waste. In December, ECP announced in December that it had acquired 50% participation in three United States solar projects in Danish based. These projects include solar energy farms and storage facilities in Texas and Arizona.
A few months earlier, the Bridgepoint group, based in London, said it had finished its $ 1 billion purchasing from energy members.
