EQT Infrastructure VII has agreed to acquire Copia Power from Carlyle, adding a developer and operator of large-scale, grid-connected energy and data center campus projects to EQT’s infrastructure portfolio.
Copia Power’s campus model combines generation, high-voltage transmission, and data center load “at the same interconnection position.” The pitch is straightforward: make it easier to bring new generation and large loads online together, rather than trying to stitch together separate projects and timelines across interconnection queues and transmission constraints.
On the asset side, Copia says it has more than 2.6 GW of energy generation and storage assets in operation or under construction. It is also “actively developing” more than 9 GW of grid-connected data centers supported by its portfolio of gigawatt-scale campuses, which it says comprise more than 25 GW of solar and storage and 7 GW of natural gas generation assets.
For data center engineers and infrastructure planners, the practical implication is that this kind of co-developed “power plus load” approach is increasingly becoming a gating factor for new AI capacity. Packaging generation, transmission, and load at a single interconnection point doesn’t eliminate grid constraints, but it can change how quickly a project can be built and energized, especially in markets where interconnection queues are already the schedule risk.
EQT said the Copia deal expands its US AI infrastructure exposure across data centers, energy, and fiber connectivity, and it named EdgeConneX, Zayo, Cypress Creek Energy, and Scale as existing portfolio companies. EQT said it expects Copia to collaborate across that portfolio and that it will support Copia’s management team in scaling the platform, advancing priority development projects, and expanding the integrated campus strategy across the US.
“Since our founding, we have focused on solving one of the most important challenges facing the U.S. power market: bringing generation, transmission and large-scale load together in a way that accelerates delivery for customers and utilities,” Copia Power CEO Ray Henger said.
The transaction is subject to customary conditions and approvals, and EQT expects it to close by the end of 2026.
Source: EQT
