Fortress Acquires 850-Megawatt Energy Portfolio to Power Data Centers
Deal News | Jan 06, 2025 | Fortress Investment Group LLC (NYSE:FIG)
Fortress Investment Group has acquired APR Energy's assets, including 30 mobile gas turbines with a capacity totaling 850 megawatts. This acquisition aims to meet the immediate energy generation demands crucial for data center expansions driven by AI applications. By partnering with Duos Energy Corporation, Fortress plans to manage and deploy these assets effectively to meet the burgeoning energy needs. This strategic move is expected to bring high-capacity power solutions to areas with strained electricity infrastructures, especially those focusing on renewable energy while building data center capabilities. The long-term goal aligns with Fortress's experience in customized financing solutions, offering immediate energy availability crucial for commercial developers and data center operators.
Sectors
- Energy Infrastructure
- Data Center Development
Geography
- United States – The US is mentioned as a primary location for data center development projects utilizing the acquired 850-megawatt energy generation assets.
Industry
- Energy Infrastructure – The article discusses an acquisition related to energy generation assets, specifically mobile gas turbines, highlighting the significance of energy infrastructure in supporting data center expansions.
- Data Center Development – The acquired energy generation assets are intended to support the rapid development of data centers, reflecting the intersection between energy infrastructure and data center development.
Financials
- $49 billion – Fortress Investment Group's assets under management as of September 30, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fortress Investment Group LLC | Acquiring Company | Company | A global investment manager with diverse strategies, acquiring APR Energy's assets to meet data center energy demands. |
| APR Energy | Target Company | Company | Provides the acquired assets, comprising 30 mobile gas-powered turbines, used for energy generation. |
| Duos Energy Corporation | Asset Management Partner | Company | Operates and deploys the acquired energy assets; a subsidiary of Duos Technologies Group. |
| Duos Technologies Group, Inc. | Parent Company | Company | Parent company to Duos Energy Corporation, focusing on sustainable energy projects. |