Acwa, EIG plan $4bn equity investment in US power venture
- Acwa Power and EIG Management Company have formed Plenum Power, a joint venture with an initial equity commitment of approximately $4 billion for U.S. power generation and energy storage investments.
- Acwa will hold a 49% stake in Plenum Power, while EIG will own 51%.
- US power industry demand is increasing due to factors like AI, data centers, and electrification, presenting a significant entry point for new investments.
