Latest news with #EnergyCapitalPartners
CNBC
06-05-2025
- Business
- CNBC
The AI boom needs to stay in the U.S., says Energy Capital's Doug Kimmelman
Doug Kimmelman, Energy Capital Partners executive chairman, joins 'Power Lunch' to discuss the energy trade, power generation and energy policy under Trump.
The Hill
21-03-2025
- Business
- The Hill
UAE commits to $1.4T ‘investment framework' in US: White House
The United Arab Emirates (UAE) has committed to a 10-year, $1.4 trillion ' investment framework ' in the U.S., the White House announced on Friday. The new framework 'will substantially increase the UAE's existing investments in the U.S. economy in AI infrastructure, semiconductors, energy, and American manufacturing,' according to the administration. The UAE committed to the investments after President Trump hosted its national security adviser, Sheikh Tahnoon bin Zayed, and the heads of major UAE Sovereign Wealth Funds and corporations for a meeting in the Oval Office earlier this week. Among the investments under the framework, the UAE investment fund ADQ and U.S. partner Energy Capital Partners announced a $25 billion initiative to invest in energy infrastructure and data centers. The energy investment company XRG, owned by the state-run Abu Dhabi National Oil Co. (ADNOC), also announced a commitment to support natural gas production in the U.S. and exports, with 'additional plans to make substantial investments in US assets across gas, chemicals, energy infrastructure and low carbon solutions.' And Emirates Global Aluminum plans to invest in a new aluminum smelter in the U.S., which the White House said would nearly double U.S. domestic aluminum production. 'These significant investments underscore the close ties between the United States and the United Arab Emirates,' the White House noted, as well as fostering 'the strong relationship' between Trump and UAE President Mohamed bin Zayed. After the UAE official's visit, Trump wrote in a post on Truth Social that their discussions touched on ways for the two countries to increase their partnership 'for the advancing of our economic and technological futures.' Sheikh Tahnoon 'praised President Donald Trump's leadership and economic policies, noting their significant role in stimulating foreign direct investment and fostering robust economic partnerships,' according to a release from the UAE Embassy in Washington, D.C. The Arab security adviser also met with Treasury Secretary Scott Bessent and White House national security adviser Michael Waltz earlier this week.
The National
21-03-2025
- Business
- The National
Abu Dhabi's $25bn US deal to explore 24-hour renewable-power for AI
New details about the massive $25 billion UAE-US partnership reveal plans to provide all-day power for data centres and meet the rapidly growing needs of energy-intensive technology industries, mainly in the US. Abu Dhabi's sovereign wealth fund ADQ and US private equity firm Energy Capital Partners (ECP) announced the 50-50 partnership on Wednesday, launched with an initial combined contribution of $5 billion. This will go towards creating 25 gigawatts-worth of new-build power generation and energy infrastructure with capital investments of more than $25 billion over the next five years. "The project will explore the potential of adding 24/7 renewable power to the energy mix in the future," an ADQ representative told The National in a written statement. For now, it will primarily focus on "gas-fired power generation assets that can meet the growing needs of hyperscalers and other energy-intensive industries". This will provide "new power" directly to data centres and other projects, rather than supplying greater power grids, in high-need areas in the US. Data centres – used to power advanced AI technology – alone consumed 4.4 per cent of total US electricity in 2023. That figure could reach 12 per cent by 2028, according to a US Department of Energy (DOE) report published last December. This growth is exemplified by recent major US projects including a $20 billion investment by the Dubai real estate developer Damac Properties in January. The investment will support "massive new data centres" in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, said Donald Trump, who was the president-elect at the time. "We are focusing on north-east and south-west demand pockets in the United States and expect to sign the first PPA [power purchase agreement] within the next 12 months," the Abu Dhabi sovereign wealth fund said in a statement. The power projects will provide bespoke energy solutions to customers by working with data centre operators and their tenants alike to identify their needs and build power-generation assets that fulfil their requirements, it added. ADQ, which focuses on critical infrastructure and supply chains, has made investments in over 130 countries, including the US, in sectors including health care and agriculture. The wealth fund manages $225 billion in assets as of June last year. Energy and utilities make up 39 per cent of the global investor's portfolio. The ADQ-ECP deal comes alongside the visit to the US of the UAE's National Security Adviser and Deputy Ruler of Abu Dhabi, Sheikh Tahnoon bin Zayed. Mr Trump said discussions with Sheikh Tahnoon centred on efforts to strengthen co-operation on the economy and technology. The two leaders discussed improving ties in sectors such as artificial intelligence and infrastructure, according to the UAE state news agency Wam, on Wednesday. Last week, UAE Minister of Industry and Advanced Technology Dr Sultan Al Jaber said the Emirates views the US as a major business partner in energy and technology, during a keynote address at the annual global energy conference CERAWeek by S&P Global in Houston, Texas. Dr Al Jaber, who is also Adnoc's managing director and group chief executive, unveiled what he called the world's first renewable and battery storage facility at the opening of Abu Dhabi Sustainability Week in January. Abu Dhabi clean energy technology Masdar is able to combine 5 gigawatts of solar capacity with 19 gigawatt hours of battery storage to produce one gigawatt of "uninterrupted clean power", he said at the time. The technology can provide this continuous stream of power at scale and around the clock in the UAE capital and transform renewable energy into a reliable baseload energy for the first time, he added.
Gulf Today
20-03-2025
- Business
- Gulf Today
ADQ and Energy Capital Partners to establish $25 billion partnership
ADQ, an active sovereign investor with a focus on critical infrastructure and global supply chains, and Energy Capital Partners (ECP), the largest private owner of power generation and renewables in the USA, have entered into an agreement to establish a 50-50 partnership in new build power generation and energy infrastructure. The partners plan to make total capital investments of more than $25 billion across 25 GW worth of projects. The combined initial capital contribution from the partners is expected to amount to $5 billion. Combining ADQ's proven expertise in infrastructure investments with ECP's premier energy investment platform in electrification and power and renewable generation, the partnership aims to service the growing power needs of data centers, hyperscale cloud companies and other energy-intensive industries. 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, with its mandate including greenfield development, new build and expansion opportunity projects that will establish it as a leader in power generation for a growing American economy. The partnership's primary geographic focus of the projects will be the USA. A portion of the capital may also be allocated towards opportunities in selected other international markets. Led by a highly experienced management team with strong expertise in power and infrastructure development and operations, the joint venture is primed to begin pursuing development opportunities immediately. Specialized teams in development and operations will ensure rapid origination and efficient commissioning of relevant projects. According to a recent report by the International Energy Agency (IEA), the world's electricity consumption is forecast to rise at its fastest pace in recent years. This surge is in part driven by the growing needs of data centers and industrial electrification. In the USA, a strong increase in electricity demand is expected to add the equivalent of California's current power consumption to the national total over the next three years. Recent research forecasts that global power demand from data centers will increase by 50 per cent by 2027 and by as much as 165 per cent by the end of the decade, driven by the expansion of AI and high-density data centers. The US Department of Energy estimates that data center load growth has tripled over the past decade and is projected to double or triple by 2028. Mohamed Hassan Alsuwaidi, Minister of Investment, Managing Director and Group Chief Executive Officer of ADQ, said: 'The acceleration of AI and its societal adoption presents attractive opportunities to serve the power and infrastructure needs of data centers and hyperscalers. Meeting these power needs presents evolving challenges for governments worldwide in ensuring secure, stable, and commercially competitive electricity supply. As an active investor with a sharp focus on critical infrastructure and proven capability in building long-term partnerships, we are in a prime position to help address these shifting structural dynamics. Our partnership with ECP allows us to invest meaningfully in generation and related infrastructure assets that support accelerating demand for power, promoting the progress of these industries and helping to future-proof economies.' Doug Kimmelman, ECP's Founder and Executive Chairman, commented: '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 honored to build an investing partnership with ADQ to provide the electricity resources demanded by the rapidly growing AI data center sector where the build out of new power generation resources or 'additionality' in the US will require significant, patient capital with a long-term horizon. Given the tightening supply/demand dynamics in US power markets, new generation capacity will be needed and our focus in this partnership will therefore primarily be on new build natural gas fired power generation assets in scale to meet the needs of hyperscalers on a timely basis.' ADQ manages over 25 portfolio companies across more than 130 countries, operating across key sectors of Abu Dhabi's rapidly transforming economy, including energy and utilities, food and agriculture, healthcare and life sciences, and transport and logistics. Infrastructure investments have been at the core of ADQ's mandate since it received its first asset transfers from the Government of Abu Dhabi, which included major power and water companies. Since its founding in 2005, ECP has established itself as a leading equity and credit investor in energy transition infrastructure. Its portfolio includes investments in power, renewables, storage, sustainability, and decarbonization infrastructure. ECP has owned, controlled, and operated over 83 GW of power generation across all major US power markets, spanning a variety of technologies including natural gas, geothermal, hydro, solar, wind, battery storage, and waste-to-energy over the past two decades. WAM
Gulf Business
20-03-2025
- Business
- Gulf Business
ADQ, Energy Capital Partners seal $25bn partnership to power data centres
Image: ADQ Abu Dhabi-based ADQ and US private equity firm Energy Capital Partners (ECP) have announced a 50-50 partnership to develop new power generation and energy infrastructure, aiming to address the rising electricity demands of data centers and energy-intensive industries. The joint venture will focus primarily on the US market, with potential investments in select international regions. The partners plan to invest over $25bn across 25 gigawatts (GW) of power generation projects, with an initial combined capital contribution of $5bn. The initiative will prioritise greenfield developments, new builds, and expansion projects to ensure a stable power supply for hyperscale cloud companies and industrial electrification. Meeting the rising demand for electricity According to a report by the International Energy Agency (IEA), global electricity consumption is projected to rise at its fastest rate in recent years, driven by the rapid expansion of artificial intelligence (AI) and high-density data centres. The US Department of Energy estimates that data centre power demand has tripled over the past decade and is expected to double or triple again by 2028. Research indicates that data centre power consumption worldwide could increase by 50 per cent by 2027 and up to 165 per cent by the end of the decade. 'The acceleration of AI and its societal adoption presents attractive opportunities to serve the power and infrastructure needs of data centers and hyperscalers,' said Mohamed Hassan Alsuwaidi, MD and group CEO of ADQ. 'Our partnership with ECP allows us to invest meaningfully in generation and infrastructure assets that support accelerating demand for power, promoting the progress of these industries and helping to future-proof economies.' ECP's founder and executive chairman, Doug Kimmelman, emphasised the urgency of new power generation to sustain AI-driven growth. '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. Our focus in this partnership will primarily be on new-build natural gas-fired power generation assets at scale to meet the needs of hyperscalers on a timely basis,' said Kimmelman. تماشياً مع نهج 'القابضة' (ADQ) بالتركيز على الاستثمار في مشاريع البنية التحتية الأساسية، أسست 'القابضة' (ADQ) مشروعاً مشتركاً مع 'إنرجي كابيتال بارتنرز'، أكبر شركة خاصة تعمل في قطاع توليد الطاقة والطاقة المتجددة في الولايات المتحدة الأميركية. وسيُسهّل هذا المشروع المشترك تطوير… — ADQ (@Adq_Official) ADQ-ECP strategic investment to enable long-term growth ADQ, which manages over 25 portfolio companies across more than 130 countries, has made infrastructure investments a core part of its mandate, spanning key sectors such as energy, utilities, healthcare, and logistics. ECP, founded in 2005, has built a strong track record as an investor in energy transition infrastructure, with ownership and operation of more than 83GW of power generation assets across major US markets. Led by a team with deep expertise in power infrastructure, the joint venture is poised to begin project development immediately. Specialised teams will oversee rapid origination and efficient commissioning of new power facilities to ensure reliable and sustainable energy supply for the digital economy. Read:
