ADQ and Energy Capital Partners (ECP) have formed a 50:50 joint venture focused on building power generation and energy infrastructure assets, primarily in the US. The partners plan to invest over $25 billion across 25 gigawatts (GW) of new projects to meet rising electricity demand from data centres and energy-intensive industries.
The initial capital contribution from the partners will total $5 billion. The new entity will prioritise greenfield development, expansion projects, and new builds, including natural gas-fired power plants. A portion of the capital may also be directed to select international opportunities.
The move follows projections from the International Energy Agency (IEA) and the US Department of Energy showing rapid growth in electricity demand, particularly from AI-led data centres. The IEA forecasts global electricity demand from data centres will grow by 50% by 2027, and up to 165% by 2030. US data centre electricity use alone is expected to double or triple by 2028.
Doug Kimmelman, Founder and Executive Chairman of ECP, said the partnership would focus on “new build natural gas fired power generation assets in scale to meet the needs of hyperscalers on a timely basis.”
The announcement comes amid concerns over US grid capacity and the availability of dispatchable power to support digital infrastructure. The US Federal Energy Regulatory Commission (FERC) has flagged supply risks in high-growth regions where data centre development is accelerating.
Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, said the partnership would support “accelerating demand for power, promoting the progress of these industries and helping to future-proof economies.”
ECP, based in the US, has owned or operated over 83 GW of generation assets since 2005, spanning gas, solar, wind, hydro, battery storage and waste-to-energy. Abu Dhabi’s ADQ, meanwhile, manages a portfolio of companies across infrastructure, energy, logistics and healthcare.
The joint venture is set to begin pursuing development opportunities immediately, supported by dedicated teams across development and operations.
