Fortress Investment Group said funds managed by its affiliates have acquired the assets of APR Energy, comprising 30 mobile gas-powered turbines and related balance-of-plant inventory with a combined energy generation capacity of 850MW.
The turbines are immediately available for deployment.
In conjunction with the acquisition, Fortress has signed an agreement with Duos Energy Corporation, a company led by APR Energy鈥檚 former executive management team, to assist in overseeing the management and deployment of the assets.
Josh Pack, co-CEO and managing partner at Fortress, said: 鈥淓nergy infrastructure is an increasingly precious commodity 鈥� and is particularly critical for the build-out of data centres needed to advance AI applications.
鈥淎cquiring these turbines allows us to offer, almost immediately, available energy capacity which, alongside our existing real estate financing and development capabilities, is a compelling proposition for customers seeking rapidly available data centre infrastructure.鈥�
Bob Warden, managing director at Fortress, added: 鈥淢any data centre customers are focused on co-located renewable energy generation for the long-term, and that strategy is creating increasing demand for bridge- and supplemental-energy generation in the near-term. We expect demand for power to exceed supply for at least a decade, making high-capacity mobile generators a potentially ideal solution as renewable energy generation and additional grid infrastructure are built.鈥�
Fortress affiliates have signed a two-year asset management agreement with Duos Energy Corporation, an operating subsidiary of Duos Technologies Group, to deploy and operate the fleet of mobile gas turbines and balance-of-plant inventory. Duos is already in active discussions regarding deployment to developers of immediate-demand power projects, including US-based data centre developers and other international projects.
鈥淢obile gas turbines can be particularly valuable for customers needing Behind-the-Meter (BTM) power solutions as the assets can be deployed in a matter of weeks,鈥� said Chuck Ferry, CEO of Duos Technologies Group. 鈥淭his offers a significant advantage over traditional utility power or new generation assets that can incur a 24-month or longer manufacturing timeline.鈥�
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