Five Point Infrastructure is investing up to $1bn (€894m) to create and fund PowerBridge, a North American data-centre developer.
PowerBridge is led by CEO Alex Hernandez who, before establishing PowerBridge, founded and served as CEO of Cumulus Data and also held the position of CEO at Talen Energy.
PowerBridge focuses on the development, construction and management of large-scale data-centre campuses, along with necessary power infrastructure and network connectivity.
Five Point said that, through its affiliate land management business LandBridge, PowerBridge will gain access to over 275,000 surface acres for infrastructure development.
PowerBridge is also connected to WaterBridge, a water management firm backed by Five Point. The relationship provides proximity to the Waha Gas market hub, potentially offering direct access to natural gas resources.
Hernandez said: “We are excited to partner with Five Point to capitalise on this generational moment in the growth and convergence of energy and digital infrastructure.
“With Five Point’s institutional support, our collective energy infrastructure, power operations, data-centre development and fibre experience, and the significant additional value that other Five Point portfolio companies can bring for customers, we look forward to providing hyperscale customers with turnkey data-centre-campus solutions at scale.”
David Capobianco, CEO and managing partner of Five Point, said: “The formation of PowerBridge adds another important component to our powered-land strategy. Together with Landbridge, WaterBridge, our deep institutional relationships and track record of building critical infrastructure companies, PowerBridge is well positioned to create best-in-class data, power and fibre solutions for data-centre customers.”
“Alex and his team transformed the power and data-centre industries with the Cumulus project, and we firmly believe this experience, combined with our resources, will redefine the digital infrastructure landscape once again by providing a differentiated, integrated and competitive solution at multi-gigawatt scale.”
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