A consortium of investors including BlackRock’s Global Infrastructure Partners agreed to acquire AES Corporation for $10.7 billion. - patrick t. fallon/Agence France-Presse/Getty ImagesA consortium of investors including BlackRock’s Global Infrastructure Partners and investment group EQT agreed to acquire AES for $10.7 billion as the AI data center buildout fuels surging demand for power generation. Utility and power-generation companies like AES are gaining increasing attention as AI’s vast energy needs place heavy burdens on power grids. “There is a need for significant investments in new capacity in electricity generation, transmission and distribution,” said Bayo Ogunlesi, chief executive of BlackRock’s Global Infrastructure Partners. “AES has a significant need for capital to support growth beyond 2027, particularly given the significant new investments in both U.S. generation and utilities businesses,” said AES Chairman Jay Morse.

Source: Wall Street Journal March 02, 2026 13:53 UTC