Energy Impact Partners (EIP) has closed Flagship Fund III at $1.36 billion, roughly 40% larger than its predecessor and the firm’s largest fund to date. The strategy targets growth and mid-market private-equity opportunities that can harden today’s grid while preparing for tomorrow’s load—much of it coming from data centres and electrification. EIP says it’s already deployed or committed about a quarter of the fund across nine companies.
The timing is not subtle. The U.S. EIA this week projected record U.S. power consumption in 2025–26, driven by data centres, AI and electrified heat and transport; in parallel, the IEA now expects global data-centre electricity use to roughly double by 2030.
