Construction Abu Dhabi buys stake in US power company for $500m By Pramod Kumar January 14, 2025, 7:59 AM Alamy via Reuters AlphaGen has more than 11 gigawatts of critical power assets in strategic markets across the US A subsidiary of Abu Dhabi Investment Authority (Adia) will acquire a minority stake in Alpha Generation (AlphaGen), a US-based power infrastructure company, by investing $500 million, amid a surge in power demand. The investment is subject to regulatory approvals and is expected to close in the first half of 2025. AlphaGen is owned by affiliates of ArcLight Capital Partners’ managed funds. The company has more than 11 gigawatts of critical power assets in markets across the US, placing it among the largest independent power portfolios in the country. Khadem AlRemeithi, executive director of the infrastructure department at Adia, said the transaction is well positioned through AlphaGen’s portfolio to provide the reliable electricity required by artificial intelligence data centres and local industries. Adia-backed bid for Malaysia Airports nears threshold UAE’s NMDC Energy bags $1.1bn projects in Taiwan Arab Energy Fund-led group buys Dubai-based Metito Since 2001, ArcLight has owned, controlled or operated more than 65 GW of assets and 47,000 miles of electric and gas transmission infrastructure, representing approximately $80 billion of enterprise value. In November 2024, Abu Dhabi’s sovereign wealth fund said it was buying a $1 billion stake in Pennsylvania-based data analytics software company Qlik.