EQT Infrastructure VII has agreed to acquire Copia Power from Carlyle in US. Copia Power develops integrated energy campuses that combine power generation, high-voltage transmission, and data centers at a single grid interconnection point. Copia has over 2.6 GW of energy generation and storage assets in operation or under construction and is developing more than 9 GW of grid-connected data centers supported by over 25 GW of solar and battery storage capacity. The transaction is expected to close by the end of 2026.
The acquisition strengthens EQT’s presence across AI infrastructure, complementing investments in data centers, energy, and fiber connectivity through companies including EdgeConneX, Zayo, Cypress Creek Energy, and Scale. EQT Infrastructure VII will begin deploying capital upon its expected activation at the end of 2026, with the Copia Power acquisition forming part of its initial investments. Following the transaction, the fund is expected to be 0-5 per cent invested, subject to customary regulatory approvals and its target fund size.
EQT is a global investment organisation with €269 billion in total assets under management. This includes €142 billion in fee-generating assets, as of March 2026. The firm invests across private capital and real assets, supporting portfolio companies in Europe, Asia Pacific, and the Americas. EQT Infrastructure VI is currently 75-80 percent invested, with management fees transitioning to a net invested capital basis following the activation of EQT Infrastructure VII.
