EQT Acquires Copia Power, Expands AI and Energy Infrastructure in U.S.

EQT to Acquire Copia Power and Enhance AI Infrastructure Across the U.S.

EQT Infrastructure VII has announced its plans to acquire Copia Power from Carlyle, marking a significant move in the energy and digital infrastructure sectors. Copia Power is known for its innovative approach in developing integrated energy campuses across the U.S., which merge generation, high-voltage transmission, and data center load efficiently.

Strategic Growth and Infrastructure Expansion

Copia Power stands out with its capability to facilitate AI infrastructure growth by offering scalable, reliable power solutions. Currently, the company boasts over 2.6 GW of energy generation and storage assets either operational or being constructed, along with the development of more than 9 GW of grid-connected data centers. These are supported by a robust portfolio of energy campuses, including over 25 GW of solar and storage and 7 GW of natural gas generation assets.

EQT's acquisition aligns with its strategy to invest in infrastructure that meets the growing global AI demand. With the increasing need for compute capacity, energy has become a crucial factor. Copia's model provides a streamlined approach for utilities to add generation and load promptly, addressing interconnection queue challenges and supporting ratepayer affordability.

Collaboration and Future Prospects

As EQT continues to build its portfolio in the U.S., which includes companies like EdgeConneX, Zayo, and Cypress Creek Energy, Copia's integrated campus model complements these efforts. The aim is to connect power generation, digital infrastructure, and connectivity, offering comprehensive solutions for hyperscalers and utilities. EQT plans to work closely with Copia’s management to scale the platform and advance strategic projects.

Ray Henger, CEO of Copia Power, expressed enthusiasm for the partnership: “We are excited to partner with EQT as we enter Copia's next phase of growth. EQT's deep infrastructure experience and long-term perspective bring the ideal partner as we continue to scale our platform and develop the energy infrastructure needed to support AI and electrification.”

Transaction Details and Future Implications

The transaction awaits customary conditions and regulatory approvals, with closure anticipated by the end of 2026. Upon activation, EQT Infrastructure VII is expected to be minimally invested, and following the acquisition, management fees will be based on net invested capital.

For more information, visit www.eqtgroup.com.

About Copia Power: Learn more at www.copiapower.com.