Carl H. Bivens, a partner in Troutman Pepper Locke’s Real Estate practice, was quoted in the September 29, 2026, The Information article, “How Investors Are Financing On-Site Power to Break AI Bottlenecks.”

  • “With all the private equity and other money that has come into the market, there’s different structures. And when there’s private equity, they want to have an ownership interest in the developer entity,” said Carl Bivens, a real estate partner at Troutman Pepper Locke.
  • For developers and the investors financing power infrastructure, longer contracts that lock in predictable cash flow are preferable. Investors are pushing for longer customer commitments to underpin these deals, increasingly favoring 10- to 15-year commitments from large cloud providers with five-year renewal options, Bivens said.
  • “It provides a longer runway of guaranteed rent for the investors. It allows [institutional investors] to amortize their costs of the behind-the-meter solution or the data center build,” he said.
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