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Abu Dhabi's ADQ and ECP partner on $25 billion plus data centre energy projects

Abu Dhabi's ADQ and ECP partner on $25 billion plus data centre energy projects

Abu Dhabi's sovereign wealth fund ADQ teamed up with U.S. Private Equity firm Energy Capital Partners in order to invest over $25 billion into energy projects for powering data centres in the United States.

ADQ announced in a Wednesday statement that the investments would be made through a partnership of 50-50 on new power generation infrastructure and 25 gigawatts.

ADQ stated that the partnership "aims at servicing the growing power requirements of data centers and hyperscale cloud companies, as well as other energy-intensive industry sectors."

The deal was announced at the same time as Sheikh Tahnoon Bin Zayed Al Nahyan's visit to the U.S. He is the national security advisor of the UAE and the brother of its president. He is also the chairman for ADQ.

On Wednesday, the state news agency WAM said that during the visit he had a meeting with President Donald Trump, and they discussed ways to strengthen ties between the U.S. and China in areas such as artificial-intelligence and infrastructure.

As part of its effort to diversify its economy and become a global AI center, the small Gulf nation - an oil-rich country and long-time partner of the U.S. - is working to gain greater access to American tech and build its own advanced technology industry.

ADQ was established in 2018 and had assets worth $225 billion at the end June. This included a wide range of assets including energy, critical minerals, transport, logistics and Abu Dhabi's state airline Etihad Airways.

(source: Reuters)