en.Wedoany.com Reported - Asset management firm Engine No. 1 recently launched Joulent, an independent energy company focused on AI data centers, which immediately secured a $1.75 billion strategic minority investment from the UK's National Grid. Joulent's core business is building dedicated power generation facilities for hyperscale AI data centers, aiming to bypass the lengthy interconnection timelines of traditional utilities and achieve faster power delivery.
This investment was executed through National Grid Ventures, a subsidiary of National Grid. Through this move, National Grid will leverage its expertise in high-voltage infrastructure and project execution to enhance Joulent's project pipeline, while entering one of the fastest-growing areas of electricity demand. Joulent's "Across-the-Meter" model is specifically designed to develop dedicated power generation facilities for large-scale AI campuses, aiming to accelerate power delivery and minimize impact on existing transmission capacity. Future projects may also integrate renewable energy sources such as solar power.
Joulent's first project—the Kilby project in Reeves County, Texas—is a 2.67-gigawatt natural gas power generation campus developed in partnership with Chevron subsidiary Energy Forge and GE Vernova. The facility has signed a 20-year power purchase agreement to supply electricity to a data center campus operated by Microsoft, with Joulent holding a 50% ownership stake in the project.
Neil Osnato, founder of Persistence Analytics Group, noted that this investment marks a structural shift in how hyperscale infrastructure is financed and delivered. Power availability is becoming a primary determinant for data center site selection, with developers increasingly relying on the reliability of power delivery timelines rather than traditional utility service processes. Zoë Yujnovich, CEO of National Grid, described the investment as a disciplined, partner-led approach to securing critical infrastructure for the AI-driven economy, while diversifying its risk exposure to U.S. electricity demand growth. Collaborations with GE Vernova and Chevron further solidify Joulent's strategic position in the AI infrastructure landscape, highlighting the industry's accelerating trend toward dedicated generation and behind-the-meter power deployment to alleviate utility interconnection delays.
