National Grid Ventures

National Grid Ventures Invests $1.75 Billion in Joulent to Expand U.S. AI Data Center Power Infrastructure

National Grid Ventures has agreed to invest $1.75 billion in Joulent LLC to develop large-scale power infrastructure for AI data centers and other electricity users across the U.S. This partnership will support projects like Project Kilby in West Texas, a 2.67-gigawatt facility dedicated to a Microsoft-operated data center. The investment aims to address the surging electricity demand driven by AI deployments and hyperscale data centers.