Energy, Power & Infrastructure - Electrical Grid Modernization - Q3 2026
The U.S. power grid is entering a structural investment cycle unlike anything we’ve seen in decades.
Our latest Energy, Power & Infrastructure report highlights the forces driving this cycle – accelerating electricity demand from AI and data centers, aging grid infrastructure, record interconnection queues, renewable integration, and the growing need for transmission and substation investment. Utility capital expenditures are projected to approach $300 billion annually by 2030, with more than $1.36 trillion of utility investment forecast from 2026–2030.
The M&A market is responding. Recent transactions involving large strategics as well as private equity sponsors, demonstrate continued strategic and financial investor appetite for high-quality utility and electrical infrastructure businesses.
For owners and investors in the T&D, substation, electrical infrastructure and grid modernization sectors, we believe the combination of long-term demand visibility, constrained infrastructure capacity and strong buyer interest creates a compelling environment for growth and strategic M&A.
