EIG and Acwa Announce Plenum Power, a Strategic Partnership to Invest in U.S. Power Infrastructure
The partnership targets acquisitions, new generation and storage, with about $4 billion in initial equity commitment, the companies said.
- Washington-Based investment firm EIG and Saudi-listed ACWA Power announced they have formed Plenum Power, a strategic partnership targeting an initial equity commitment of approximately $4 billion to invest in United States power projects.
- R. Blair Thomas, Chief Executive Officer of EIG, said the U.S. power industry is at an "inflection point," as rising demand from data centers, AI, and electrification creates an attractive entry point for new, large-scale investment.
- EIG will own 51% of Plenum Power, combining its investment expertise with ACWA's global experience in developing and operating large-scale energy infrastructure across conventional and renewable power generation.
- Dr. Samir J. Serhan, Chief Executive Officer of ACWA, added that the partnership creates a "strong foundation" to pursue both conventional and renewable power generation, marking a strategic international expansion for the company.
- Andrew Ellenbogen, President of EIG, said the firm will apply its platform-creation playbook to Plenum Power, aiming for growth through acquisitions and development of new capacity within the evolving U.S. power sector.
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Acwa, EIG plan $4bn equity investment in US power venture
Saudi Arabia’s Acwa and US-based EIG Management Co. have launched a joint venture named Plenum Power, targeting an initial equity commitment of $4 billion for US power generation and energy storage investments. With Acwa holding a 49% stake and EIG 51%, the partnership aims to leverage their combined expertise to capitalize on growth in the evolving US power market.
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EIG and Acwa Announce Plenum Power, a Strategic Partnership to Invest in U.S. Power Infrastructure
WASHINGTON & RIYADH, Saudi Arabia--(BUSINESS WIRE)--Oct 29, 2026-
In collaboration with the daily newspaper l'Adige we receive and publish the link of the following news. Opinione thanks the publisher for the multimedia partnership. /// EIG and Acwa announce Plenum Power, a strategic partnership to invest in the energy infrastructure of the USA. Link to the news
The partnership combines EIG’s expertise in platform building, investments, and financing with Acwa’s capabilities in the development and operation of large-scale energy projects and aims for a launch with an initial capital commitment of around $4 billion. WASHINGTON & RIYADH, Saudi Arabia–(BUSINESS WIRE)– EIG, a leading institutional investor in the global energy and […]
EIG and ACWA Target $4 Billion Investment In U.S. Power Infrastructure
EIG and ACWA have formed a partnership, Plenum Power, targeting the U.S. power sector with an initial investment of $4 billion. This collaboration aims to enhance power generation capacity and energy infrastructure amid rising electricity demand influenced by electrification and AI. Both companies will leverage their expertise for acquisitions and new projects.
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