Abu Dhabi-based holding company ADQ has entered into a 50/50 partnership with US-based Energy Capital Partners to collaborate on the creation and development of power generation and infrastructure projects in the sector, with both companies committing a total investment exceeding $25 billion.
The joint venture will primarily focus on the US market, with the possibility of allocating a portion of the capital to invest in potential opportunities in selected international markets. The two parties intend to invest in projects capable of generating 25 gigawatts of power. The total initial capital contributions from the two companies are expected to reach $5 billion, according to a statement issued on Tuesday.
Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, said: “The rapid expansion and adoption of AI technologies presents promising opportunities to meet the energy and infrastructure needs of advanced data centers. Our partnership with Energy Capital Partners enables us to invest in power generation and related infrastructure projects to meet the accelerating demand for energy.”
The announcement of the deal comes shortly after US President Donald Trump hosted Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security advisor, on Tuesday. Sheikh Tahnoon chairs ADQ, the $249 billion sovereign wealth fund.
On his part, US Vice President J.D. Vance said during a technology summit held on Tuesday that the US administration was "delighted" to welcome an Emirati delegation to Washington, praising the UAE as a key partner in the field of artificial intelligence.
"This is just the beginning," Hamad Al Hammadi, deputy CEO of ADQ, said in an interview with Bloomberg, referring to the planned $25 billion in investments. He added, "We don't mind raising capital if opportunities arise."
He explained that the partnership aims to invest the full amount over the next five years, then raise more funding if the company identifies new targets.
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