DCD
Summary
North American utilities could see a capex “super cycle” driven by demand from data centers, according to credit ratings agency Morningstar DBRS.
Growth expenditures by investor-owned utilities are expected to surpass $1.1 trillion by 2029 as increases in the size, capacity, and quantity of data centers in North America drives electricity demand.
In the US, investor-owned utilities have already invested more than $1.3 trillion over the past decade.
"We anticipate that regulated utilities with supportive regulatory commissions, solid credit ratings, and access to capital markets will deploy the needed capex to take advantage of the data center boom," said Bukola Folashakin, assistant vice president, Corporate Ratings at Morningstar DBRS.
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