Abu Dhabi's ADQ and American private equity firm ECP make $25 billion bet on powering U.S. data centers

Sovereign wealth fund ADQ and American private equity firm Energy Capital Partners, or ECP, have signed a deal for a $25 billion investment partnership dedicated to increasing power generation, primarily in the U.S., to serve data center needs, the companies announced Wednesday. The partnership "aims to service the growing power needs of data centers, hyperscale cloud companies and other energy-intensive industries," a joint statement by the firms read. "As the continuity and quality of power supply is crucial for these high-growth industries, the need for captive power plants that are in proximity is often a pre-requisite. The partnership is focused on meeting these needs over the long-term." The 50-50 partnership will deploy capital with the goal to invest more than $25 billion across 25 gigawatts worth of projects via greenfield site development, new builds and expansions of current infrastructure. ADQ, established in 2018 in Abu Dhabi, United Arab Emirates, focuses on investment ... Read full article.