ADQ & Energy Capital Partners Launch $25B Deal to Boost US Power Generation

Post by: Omar Nasser

Photo : Abu Dhabi Media Office

ADQ, a big investment company from Abu Dhabi, and Energy Capital Partners (ECP), the largest private owner of power plants and renewable energy in the US, have teamed up to create a 50-50 partnership. Their goal is to build new power plants and grow energy systems to meet the rising electricity needs of data centers, cloud companies, and other industries that use a lot of power.

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By combining ADQ’s skills in building big projects with ECP’s strong experience in energy and electricity, the two companies aim to provide steady power to support the growing demand. With more data centers being built, having close and reliable power sources is now very important. The partnership will focus on building new plants, expanding old ones, and creating better energy systems to meet these needs.

The main area of work for this project will be in the US, but some money may be used for global projects as well. The two companies plan to invest over $25 billion in 25 power projects. They will first add $5 billion as starting money and will add more as they expand.

The partnership will be led by a group of expert leaders who have years of experience in building and running power plants. They will start working right away by finding new projects and growing existing ones. Special teams will handle the development and operations, making sure the work is done quickly and smoothly.

A report by the International Energy Agency (IEA) says that the world’s need for electricity is growing fast, mostly because of the increasing number of data centers and the move towards electric-powered industries. In the US, electricity use is expected to rise sharply in the next three years, adding as much power as the entire state of California uses today.

The US Department of Energy says that data center power needs will grow by 50% by 2027 and could more than double by 2030. This growth is due to the rising use of high-speed data systems. The energy load from data centers has already tripled over the last ten years and is expected to double or triple again by 2028.

His Excellency Mohamed Hassan Alsuwaidi, CEO of ADQ, shared why this partnership is important:
“The fast growth of technology brings many chances to build new power systems for data centers and cloud companies. Making sure these industries have steady and affordable electricity is a challenge for many countries. At ADQ, we invest in big projects and work with strong partners like ECP. This deal will help us build more power plants to support the growing need for energy and help economies become stronger.”

Doug Kimmelman, Founder and Chairman of ECP, spoke about the need for new power plants:
“Technology will be a big driver of job growth and economic success in the US over the next ten years. But this won’t happen without enough electricity. We are excited to work with ADQ to build new power plants that will give data centers the energy they need. With rising power demand in the US, we will mainly focus on building natural gas power plants to supply energy to large tech companies quickly and effectively.”

The partnership between ADQ and ECP is a major step towards building stronger power systems in the US. With $25 billion in planned investments, this project will help meet the rising energy needs of growing tech and industrial businesses.

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