AI Interconnect Delays Spur $1.75B National Grid–Joulent Deal

UK-based National Grid has invested $1.75 billion in Joulent, a power developer focused on building dedicated generation for AI data centers. Traditional utility interconnection queues have become increasingly constrained, creating long delays for AI operators seeking to secure reliable electricity, so Joulent offers an alternative by placing power plants directly adjacent to large AI campuses under long-term power purchase agreements. The investment reflects a broader shift in how AI infrastructure is being financed and deployed, with power availability becoming the primary constraint determining where data centers can be built rather than land or capital alone. Analysts characterize this as a structural change in infrastructure development, where developers now select sites based on where reliable power can actually be delivered on required timelines rather than waiting years for traditional grid interconnection upgrades.