KKR and ECP in $50B strategic partnership for AI data center/power generation

KKR (KKR), a leading global investment firm, and Energy Capital Partners or ECP announced a $50B strategic partnership. The collaboration aims to accelerate the development of data center and power generation and transmission infrastructure for the rapid expansion of artificial intelligence AI and cloud computing globally. This strategic partnership combines KKR’s deep expertise in digital infrastructure, power, and the energy value chain with ECP’s premier energy transition platform in electrification and power and renewable generation. Advancements in AI are fueling an unprecedented demand for data centers, but a limited availability of reliable power is impeding the strategic goals of the world’s largest technology companies, enterprises, and governments looking to deploy AI. U.S. data center demand is projected to nearly triple by 2030, driving over $1T in investment1. A single planned data center campus regularly exceeds 1 gigawatt GW of power demand and requires an investment of $15 billion or more across data center and power equipment. “Data center power demand is expected to grow by 160% by 20302, a demand that will go unmet without the right infrastructure in place, which is critical to boosting productivity, supporting electrification and helping countries create a competitive edge in AI. At the same time, the scaling of this mission-critical infrastructure must be done affordably, reliably, and sustainably, while addressing the needs of all stakeholders – from technology companies to end consumers,” said Joe Bae, Co-Chief Executive Officer, KKR.