IHI Power Services Corp, a leading power plant operator in the US, has been rebranded as Kyuden Energy Partners following its acquisition by Japan’s Kyuden Group.
Kyuden owns a diversified portfolio of generation, transmission and distribution assets, including nuclear, thermal, hydro, geothermal, wind, solar, battery storage and biomass.
“This is the beginning of an exciting and prolific new chapter,” said Tony Dabbene, CEO of Kyuden Energy Partners. “Kyuden International’s backing strengthens our organisation, broadens our reach and deepens the resources behind every project we take on.”
Kyuden itself is a wholly owned subsidiary of Kyushu Electric Power Company, one of Japan’s biggest electric utilities, and a cornerstone of the country’s energy infrastructure for more than 70 years.
The acquisition brings to Kyuden Energy Partners huge additional depth in terms of institutional knowledge and capital resources at a key time for the US energy market.
US electricity demand is projected to reach record highs in 2026, driven by an AI-fuelled surge in data centre construction forecasted to more than double grid power needs by 2027, according to Goldman Sachs Research.
Ageing infrastructure and accelerating renewable integration are also straining grid reliability, and per the Electric Power Research Institute (EPRI), data centres alone could consume up to 9% of total US electricity generation by 2030, up from just 4% in 2023.
Geothermal energy is seen as a potential solution to this growing need, among many other energy solutions.
A Kyuden Energy Partners statement said that its formation reflects growing international confidence in the US power sector with foreign direct investment into US utilities reaching US$16bn in 2024.
“For Kyuden International, this goes beyond capital deployment — it is a deliberate, long-term commitment to the American energy market, and the Kyuden Group's first dedicated investment in US operations and maintenance (O&M),” the statement read.
“It is a signal that the future of energy infrastructure will be shaped by partnerships that cross borders."
IPSC came into thenew alliance with one of the most versatile O&M platforms in the country, managing a diverse portfolio of natural gas, biomass, hydro, coal, battery energy storage systems (BESS), wind, solar facilities and more.
Capabilities run the gamut from O&M to asset management, regulatory compliance and technical support across every phase of power generation, from construction through decommissioning.
“The United States sits at the centre of the global energy transformation, and Kyuden Energy Partners gives Kyuden International a truly exceptional platform from which to grow and contribute,” said Takashi Mitsuyoshi, CEO of Kyuden International Corporation and Executive Officer of Kyushu Electric Power Company.
“We bring the operational precision and strategic discipline of the Kyuden Group to a team that has already proven itself as one of the most trusted power plant operators in America. This represents our first investment in an O&M business in the United States, and with it, we are committed to building a dynamic, long-standing partnership designed for the power generation demands of the future and to empowering Kyuden Energy Partners to reach its full potential."