The initiative aims to develop 25 gigawatts of power generation projects, supported by an initial capital commitment of $5bn from both firms. The investment strategy prioritizes greenfield developments, new builds, and expansion projects to secure a stable energy supply for hyperscale cloud computing and industrial electrification. Global electricity consumption is projected to rise at its fastest pace in recent years, driven by artificial intelligence and the expansion of high-density data centers. The US Department of Energy estimates that data center power demand has tripled over the past decade and could double or triple again by 2028. Research indicates that global data center power consumption could increase by 50 percent by 2027 and up to 165 percent by the end of the decade. Mohamed Hassan Alsuwaidi, managing director and group CEO of ADQ, emphasized that the rise of AI and digital transformation presents significant opportunities in energy infrastructure. He stated that the...
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