Swedish investment firm EQT has acquired Copia Power, a developer of integrated energy and digital infrastructure campuses, from Carlyle.

The deal will see EQT’s ongoing infrastructure fund EQT Infrastructure VII take full control of the company. The acquisition amount was not disclosed.

Copia was established in 2021 by global investment firm Carlyle’s infrastructure group. The company pairs power generation, high-voltage transmission, and data center load at the same interconnection point, a model it claims shortens development timelines for AI infrastructure.

At present, the company has more than 2.6GW of energy generation and storage assets in operation or under construction. It is also developing more than 9GW of grid-connected data centers, backed by a portfolio of gigawatt-scale energy campuses comprising more than 25GW of solar and storage capacity and 7GW of natural gas generation.

“EQT’s deep infrastructure experience and long-term perspective bring the ideal partner as we continue to scale our platform and develop the energy infrastructure needed to support AI and electrification,” said Ray Henger, CEO of Copia Power.

“Copia has built a differentiated platform at the intersection of these two themes, and we believe it is exceptionally well-positioned for long-term growth,” added Alex Darden, partner and head of EQT Infrastructure Americas.

The acquisition adds to EQT’s growing portfolio of investments within the digital infrastructure space. It has existing investments in data center firm EdgeConneX, fiber businesses Zayo and Scale, and energy company Cypress Creek Energy. EQT said it intends to support collaboration with Copia and the rest of its investment portfolio.