Cloverleaf Infrastructure announced that it has secured $300 million to develop clean-powered data centre sites.
The capital commitment of $300 million was received from private equity investors NGP and Sandbrook Capital. Additional contributions came from the US-based company’s management team.
Leveraging knowledge about power and data center industries, Cloverleaf plans to partner with local US utilities and data center operators to provide expandable renewable energy through planned investments in transmission, grid connection, land, on-site power generation, and energy storage.
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David Berry, Cloverleaf’s CEO, said, “The rapid growth in demand for electricity to power cloud computing and artificial intelligence poses a major climate risk if fueled by high-emission fossil fuels.”
He added, “However, it’s also a major opportunity to catalyse the modernization of the US grid and the transition to a smarter and more sustainable electricity system through a novel approach to development. Cloverleaf is committed to making this vision a reality with the support of leading climate investors like Sandbrook and NGP.”
Cloverleaf was recently established as a developer of “large-scale infrastructure sites powered by low-carbon electricity.”
The team consists of individuals with experience from well-known independent power developers like Pattern Energy and ConnectGen. In addition, large date centre operators like Microsoft are also a part.