The transaction is the latest big announcement in a hot market for US power and utilities mergers and acquisitions, as companies jostle for position in anticipation of AI-driven demand spike.
AES Corporation is being sold for $10.7 billion cash in a deal that will potentially see the world’s largest commercial and industrial clean energy supplier enter private ownership.
Blackrock-owned Global Infrastructure Partners leads the consortium that is acquiring AES’s global business, which includes US electric utilities in Indiana and Ohio, plus a major global renewable generation portfolio.
The transaction comes as forecast electricity demand in the United States swells, driven by an expected ramping up of data center deployment.
Analysts at Deloitte have forecast US data center demand will require 176 GW of power by 2035 and merger and acquisition activity in the power and utilities sectors appears to be heating up as a result.
