Companies building and operating data centers are seeking ways to secure power for massive AI build-outs, prompting large financing pledges and creative dealmaking for on-site power. Investors are getting involved through large investments in specific projects, such as new on-site power plants, and by taking equity stakes in companies that provide on-site power. A Blackstone-led group, including KKR and Apollo, agreed to invest $5.3 billion for a 49% stake in five gas-fired power projects pipeline giant Williams is developing to supply on-site power for data centers. Of the $5.3 billion, $4.4 billion will cover the investors' share of expected project costs.
Related Articles
Don't miss out on breaking stories and in-depth articles.