🌆 Infra Futures #10

Happy Monday 👋

A $2.5B subsea interconnector was approved this week, linking the green electricity grids of Cyprus, Greece, and Israel. India is planning a $1.2B investment in the petroleum and natural gas sector to enhance India's energy infrastructure. ECL is building the world’s first off-grid hydrogen-powered AI data center (1 GW) near Houston. A study by the International Association of Ports and Harbors estimates that $55-83 trillion is needed for climate-resilient port infrastructure in developing countries. POSCO E&C partnered with ten concrete companies in Jeonju to promote eco-friendly concrete containing blast furnace slag, while Washington state's top education official is urging lawmakers to allocate an additional $3B to fully fund K-12 public schools. Diamondback Energy and Kinetik have acquired a 30% stake in Epic Crude, a key pipeline operator.

🏗️ Energy Infrastructure

⚡ Massive $2.5B subsea green electricity interconnector approved. A $2.5B subsea HVDC interconnector project will link the green electricity grids of Cyprus, Greece, and Israel, enabling clean energy transmission between Europe, the Middle East, and Asia.

🔋 PM Modi to Dedicate $1.2B in Energy Projects. Prime Minister Narendra Modi is set to launch and dedicate various initiatives in the petroleum and natural gas sector totaling $1.2B, boosting India's energy infrastructure and green transition.

💻 World's First Massive Off-Grid AI Data Center Announced. ECL announced plans to build a 1 GW off-grid, hydrogen-powered AI data center near Houston to support the next wave of AI innovation.

🚘 Transport Infrastructure

⚓ Massive Investment Needed for Green Port Infrastructure. A study by MTBS for the International Association of Ports and Harbors (IAPH) estimates that between $55-83T is required for developing energy-efficient and climate-resilient port infrastructure in developing countries.

🚢 Nigeria to Build $3.5B Bakassi Seaport. Nigerian officials have announced plans to construct a new $3.5B seaport on the Bakassi peninsula in the southeast of the country.

🛣️ Major Investment in European Transport Infrastructure. $2.7B has been allocated for the construction and modernization of European transport infrastructure in the European Union, as well as in Ukraine and Moldova, both of which are associated countries under the Connecting Europe Facility (CEF).

🏛️ Buildings

🏨 POSCO E&C partners with local concrete firms for eco-friendly construction. POSCO E&C, a major construction company in South Korea, signed an agreement with ten small and medium-sized ready-mixed concrete companies in Jeonju to increase the use of eco-friendly concrete containing blast furnace slag.

🏢 New UK Net Zero Carbon Buildings Standard Unveiled. Climate and industry groups have published a draft of new technical standards for net zero carbon buildings in the UK to address misleading environmental claims in the construction industry.

🛫 JFK Airport's New Terminal to Host Largest US Airport Microgrid. JFK International Airport's new Terminal One will host the largest airport microgrid in the United States. Construction has begun, featuring more than 13,000 solar panels and part of a 12-MW microgrid.

🏫 Social Infrastructure

🏫 Washington's education chief seeks $3B boost for public schools. The top education official in Washington state is calling on lawmakers to fully fund K-12 public schools by allocating an additional $3B.

🎒 UP Government to Open India's First Gen-AI Integrated Campus. The Uttar Pradesh government has approved a proposal to open a new campus that will integrate generative artificial intelligence (Gen-AI) technology, which will be the first of its kind in India.

💰 Infra Deals

👷 Diamondback Energy and Kinetik Increase Stake in Epic Crude Pipeline Operator. Diamondback Energy and Kinetik have jointly acquired a 30% equity stake in Epic Crude, a key pipeline operator and a unit of Epic Midstream.

🖥️ Sixth Street to Acquire Minority Stake in EdgeConneX. Sixth Street, a global investment firm, is acquiring a minority stake in EdgeConneX, a data center provider, from EQT. The transaction is expected to close in the fourth quarter of 2024.

🏗️ Fletcher Building Seeks $700M Capital Raise. Fletcher Building, a troubled building products and construction company, is seeking to raise $700M due to poor demand and declining house sales.

Thank you for reading. Have a great week ahead!
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