ArcLight to Invest $500 Million in Wind and Solar to Meet AI Demand.

ArcLight Capital Partners has launched a new unit called SkyVest Renewables with an initial capital of $500 million. The unit aims to acquire and upgrade wind and solar projects to meet the increasing electricity demand from data centers. SkyVest Renewables has already made its first deal by purchasing a 160-megawatt wind farm in West Texas. The company plans to spend a portion of the capital commitment this year and the rest in 2025. The investment in renewable energy is driven by the growing demand for low-carbon power due to the rise of artificial intelligence and electric vehicles. [Extracted from the article]