Spanish renewable energy company Zelestra has announced plans to invest €10.5 billion ($11.8 billion) over the next four years to tap into the increasing demand for electricity driven by artificial intelligence projects in the United States. This investment comes as US electricity consumption is projected to reach record highs in 2026 and 2027, largely due to the rising needs of AI data centers, which have identified electricity access as a critical constraint for their expansion. To address this demand, utilities and renewable energy developers in the US are focusing on new generation and storage projects.
Zelestra: Zelestra Corp. SA is a vertically integrated renewable energy developer focused on large-scale solar, hybrid solar-plus-storage, and multi-technology projects. Owned by private equity firm EQT AB, the company operates globally with a growing emphasis on the US market to serve corporate offtakers. Its latest strategy includes a significant shift toward supplying power for AI-related projects in the United States.
Power Demand: US electricity consumption is expected to hit new record highs in 2026 and 2027, driven primarily by surging needs from AI data centers.
AI Infrastructure: Access to electricity has emerged as a key constraint limiting the speed of AI industry expansion in the United States.
Renewable Expansion: Utilities and renewable energy developers across the US are prioritizing new generation and storage projects to meet demand from hyperscale data centers.
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