ADQ, an Abu Dhabi-based investment firm, and Energy Capital Partners (ECP), the largest private owner of power generation and renewables in the US, announced Wednesday they plan to invest over $25 billion in power generation and energy infrastructure. Their joint venture aims to develop 25 GW worth of projects, supported by an initial capital contribution of $5 billion.
The 50-50 partnership will focus on new-build power generation and infrastructure, addressing the rising electricity demands of AI-driven data centers. Mohamed Hassan Alsuwaidi, CEO of ADQ, emphasized the importance of securing power for these facilities amid growing AI adoption.
AI will be a major driver of US economic and job growth over the coming decade, but not unless ample new electricity supplies are developed. We are honoured to build an investing partnership with ADQ to provide the electricity resources demanded by the rapidly growing AI data center sector," Founder of ECP Doug Kimmelman said.
