NEW YORK: BlackRock-owned Global Infrastructure Partners (GIP) is nearing a US$38bil deal, inclusive of debt, to acquire utility group AES, the Financial Times reports, citing people briefed on the matter.
Utilities are expected to benefit from a surge in demand for power driven by artificial intelligence and data centres, prompting companies and investors across the board to strike deals with them.
Talks between GIP and AES were at an advanced stage, but negotiations could fail to yield a deal, according to the Financial Times report.
GIP, an infrastructure investment fund, declined to comment. Meanwhile, AES and GIP did not immediately respond to a request for comments.
AES, which surpassed Wall Street estimates for its second quarter profit in July, has experienced significant growth in its renewables unit over the past year.
This expansion has been fuelled by a global push for cleaner sources of power generation, coinciding with projections that US power consumption will reach record levels. — Reuters
