ADQ, a sovereign investor focused on critical infrastructure, and Energy Capital Partners (ECP), the largest private owner of power generation in the U.S., have formed a $25 billion investment partnership to develop new power infrastructure, primarily serving the growing electricity demands of data centers and industrial facilities.

The 50-50 joint venture will focus on new build power generation, including greenfield development and expansion projects in the U.S., with selected international opportunities. The partners will initially contribute $5 billion to kickstart developments, targeting a total of 25 GW of new power capacity.

The move comes as electricity demand surges, driven by AI expansion and high-density data centers. A recent report from the International Energy Agency (IEA) forecasts U.S. power consumption to grow significantly, adding the equivalent of California's current energy usage to the grid over the next three years.

Mohamed Hassan Alsuwaidi, ADQ's Managing Director and Group CEO, emphasized the importance of stable energy supplies for high-growth sectors, while Doug Kimmelman, ECP's Founder and Executive Chairman, highlighted the critical need for new natural gas-fired power generation to meet rising demand.

Since its inception, ECP has owned and operated over 83 GW of power assets across major U.S. markets, spanning renewables, battery storage, and traditional power sources. Meanwhile, ADQ continues to invest in global energy and infrastructure, reinforcing its strategic role in the evolving energy landscape.