In this year's last episode, editor-in-chief Bruno Alves sits down with Doug Kimmelman, founder and executive chairman of Energy Capital Partners.

Today's discussion focuses on the US electricity market, which is experiencing a "shining moment" driven by unprecedented demand growth after 30 years of stagnation. Key drivers include the massive power needs of artificial intelligence and data centres, along with LNG exports, the onshoring of manufacturing, and the expansion of electric vehicles and crypto mining. This surging demand - which could require as much as 400GW of new capacity, including replacements for retiring coal and nuclear plants - is rapidly transforming the sector.

With that in mind, we discuss how the market is prioritising slowing the retirement of existing generation, brownfield expansions, and fast-to-deploy solar and storage, while the reliance on natural gas increases despite turbine bottlenecks. We also explore how the presence of hyperscalers with strong balance sheets is reshaping the contracting environment, leading to longer-tenure, highly financeable power purchase agreements.

In this episode, editor-in-chief Bruno Alves sits down with Waldemar Szlezak, KKR’s global head of digital infrastructure.

In a wide-ranging discussion, they address whether there's a bubble forming around AI infrastructure and why parts of the market are overheating during one of the fastest capex cycles in tech history. They then explore the lifespan of data centre infrastructure compared to the rapid obsolescence of the GPUs that power it, touch on the industry's “coordination tax”, examine KKR's molecule to the rack strategy, and much more.

We're going to be talking about digital infrastructure a lot at the Infrastructure Investor Global Summit, taking place in Berlin from the 24th to the 27th of March 2026. We have an early bird deadline offer expiring on the 12th of December, which you should definitely consider. So don't miss your chance to lock in discounted registration and join over 3,000 infrastructure decision makers – including 1,000 LPs from 50 plus countries – at the iconic STATION Berlin.

In this episode, Daniel Kemp, APAC editor, private markets, for PEI Group and APAC real assets reporter Tom Taylor reflect on our recent Infrastructure Investor Network Australia Forum, in Melbourne, and other Asia-Pacific events held this year.

The discussion covers a wide range of topics, including how geopolitics is shaping investment decisions across the region; AI and digital infrastructure’s thematic dominance, with massive demand for data centres driving investment not only in developing markets but also in Southeast Asia; the headwinds Australia is facing, with foreign investor frustration over new tax rules, and renewables stagnation; the maturation of Japan’s investor base, with LPs starting to make more direct fund commitments; the importance of relationship-driven capital, and much more.