RIYADH: Abu Dhabi Developmental Holding Co., a sovereign investment entity in the UAE, and Energy Capital Partners are forming a $25 billion energy partnership to address electricity demands across 25 gigawatts of US-based projects.
The UAE-based company will partner with the largest private owner of power generating and renewable energy in the United States in a 50-50 venture. This collaboration will concentrate on building new power production and energy infrastructure to support data centers, hyperscale cloud providers, and other energy-intensive sectors.
According to the Emirates News Agency (WAM), the aggregate first capital investment from both partners is projected to be $5 billion. Some cash may also be allocated to investment opportunities in certain international markets.
This strategic strategy is consistent with recent findings from the International Energy Agency, which predicts the world’s energy demand will rise at the quickest rate in years. Rising demand from data centres and industrial electrification contribute to the spike. In the United States, electricity demand is predicted to increase by an amount equal to California’s current power consumption during the next three years.
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