EQT has agreed to acquire Copia Power, a company focused on developing, owning, and operating large-scale integrated data centre and energy infrastructure campuses in the US, from Carlyle.
The agreement, reached through EQT Infrastructure VII, is designed to address the increasing need for scalable and reliable power solutions to support the rapid expansion of data centres.
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Copia Power’s approach combines power generation, high-voltage transmission, and significant data centre load at a single interconnection point, aiming to accelerate the delivery of AI infrastructure.
Its current portfolio comprises over 2.6GW of energy generation and storage either operational or under construction, along with projects actively developing more than 9GW of grid-connected data centres.
Copia Power’s gigawatt-scale campuses include upwards of 25GW of solar and storage capacity and 7GW of natural gas generation assets.
The acquisition expands EQT’s US investments in data centres, energy, and fibre connectivity, alongside stakes in EdgeConneX, Zayo, Cypress Creek Energy, and Scale.
Completion of the transaction is subject to customary conditions and approvals and is expected by the end of 2026.
Copia Power CEO Ray Henger said: “We are excited to partner with EQT as we enter Copia’s next phase of growth. Since our founding, we have focused on solving one of the most important challenges facing the US power market: bringing generation, transmission and large-scale load together in a way that accelerates delivery for customers and utilities.
“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.”
EQT Infrastructure Americas partner and head Alex Darden said: “The rapid adoption of AI is transforming infrastructure demand, making energy an increasingly critical enabler of digital infrastructure.”
