Carlyle Group has agreed to sell Cogentrix Energy, owner of numerous U.S. power plants, to Quantum Capital for $3 billion amid a surge in electricity demand driven by AI and data center growth.
Global investment firm The Carlyle Group has agreed to sell Cogentrix Energy , the owner of more than a dozen U.S. power plants , to private equity group Quantum Capital for $3 billion, the Financial Times reports. Carlyle bought the North American power generation assets held by Cogentrix Energy from Goldman Sachs Group back in 2012. Earlier this year, FT reported that Carlyle had hired investment bank Lazard and law firm Latham & Watkins to advise the group on a potential sale of Cogentrix.
power demand is “likely to experience growth not seen in a generation,” according to a report by Goldman Sachs from earlier this year. America’s demand for electricity will rise roughly by 2.4% each year by 2030, and around 0.9 percentage point of that figure will be tied to data centers, Goldman Sachs Research estimates. This compares with zero growth in U.S. power demand in the decade to 2023. Goldman Sachs expects data centers will use 8% of U.S.
Cogentrix Energy Quantum Capital Power Plants Data Centers AI Electricity Demand Energy Sector Merger Acquisition
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