EQT to acquire Copia Power to build AI infrastructure

Investment firm EQT announced its agreement to acquire Copia Power, a company focused on developing integrated energy and digital infrastructure campuses across the U.S. The acquisition is positioned to support the growing demand for artificial intelligence infrastructure.

Copia Power designs, owns, and operates large-scale campuses that combine power generation, transmission, and data center loads. The company collaborates with utility providers to increase capacity and speed up infrastructure development. Copia currently has over 2.6 GW of energy and storage assets in operation or under construction and is developing more than 9 GW for data centers.

EQT views the acquisition as a strategic alignment with its focus on infrastructure supporting AI demand. The rapid adoption of AI is increasing the need for computing power, with energy emerging as a significant bottleneck for data center growth. Copia's integrated model is intended to address this challenge by providing customers with reliable power.

Ray Henger, CEO of Copia Power, expressed anticipation for the partnership with EQT, citing their infrastructure expertise and long-term perspective as key to scaling Copia's platform. The transaction is expected to close by the end of 2026.