ArcLight Bets $500 Million on Wind and Solar to Meet AI Surge

ArcLight Capital Partners, a major private equity buyer of power assets, launched a new unit with initial capital of $500 million to acquire and upgrade wind and solar projects that will help meet surging electricity demand from data centers.

The investment vehicle, SkyVest Renewables, made its debut deal with the purchase of a 160-megawatt wind farm in the Permian Basin of West Texas. The company didn’t disclose what it paid for the project, which has been operating for four years. ArcLight said it expects to spend a third to half of the initial SkyVest capital commitment this year and ...