Sandbrook and NGP Pledge $300 Million to Data-Center Power Infrastructure Developer

Sandbrook Capital and NGP Energy Capital have pledged a total $300 million to Cloverleaf Infrastructure, a newly formed business that helps data centers access renewable power. These days, this often includes helping overburdened utilities find new ways to provide that power.

Houston-based Cloverleaf will use the capital to buy land and develop energy infrastructure, such as power generators and transmission lines as well as grid-interconnection and battery systems that facilitate the supply of renewable electricity to data centers. Private-equity firms Sandbrook and NGP each committed $150 million to the new business, said Alfredo Marti, a partner and co-founder at Stamford, Conn.-based Sandbrook.

Source: WSJ