EQT to acquire Copia Power from Carlyle to scale integrated energy campuses for US digital infrastructure

European investment firm EQT has agreed to acquire integrated energy developer Copia Power from Carlyle. The transaction, expected to close by late 2026, aims to accelerate the deployment of power generation and grid-connected data centers, addressing critical energy bottlenecks driven by the rapid expansion of artificial intelligence infrastructure.

Investment firm EQT has entered into an agreement to acquire Copia Power from global alternative asset manager Carlyle. The transaction is projected to conclude by the end of 2026, pending standard regulatory clearances. EQT operates globally as an investment organization with a strong focus on digital and energy infrastructure. Copia Power specializes in developing integrated energy campuses that co-locate power generation, high-voltage transmission, and data center facilities.

The acquisition directly targets the escalating energy constraints threatening the expansion of digital infrastructure. Currently, Copia manages over 2.6 GW of active or under-construction energy assets and is advancing more than 9 GW of grid-connected data centers. By integrating scalable power generation, including solar, storage, and natural gas with localized data load, the company provides hyperscale operators a reliable pathway to firm power while bypassing severely congested utility interconnection queues.

This transaction underscores a critical convergence between the utility and technology sectors. As artificial intelligence applications drive unprecedented computing demands, traditional power grids are struggling to accommodate massive new loads. The co-location model developed by Copia offers regional utilities a streamlined mechanism to onboard high-capacity data centers without compromising grid stability or transferring extensive infrastructure costs to everyday ratepayers.

For institutional investors and digital infrastructure operators, the deal signals an urgent shift toward vertically integrated data and power platforms. Adding Copia to its existing United States portfolio allows EQT to cross-leverage capabilities across fiber connectivity, renewable energy, and facility management. This consolidation positions heavily capitalized infrastructure funds as essential enablers of AI development, capturing long-term value from the ongoing digital expansion cycle.