Banpu Public Company Limited (SET: BANPU) is preparing a minimum $1.5 billion investment in its U.S. operations as electricity demand rises due to rapid data center growth, according to a report by Bloomberg. This move reflects efforts to capitalize on expanding power needs, particularly those linked to artificial intelligence and cloud computing-driven facilities.
The report states that the energy company’s American subsidiary, BKV Corp., is exploring both new construction projects and potential acquisitions of gas-fired power plants with an aim to add approximately 1,000 megawatts of generation capacity. According to Banpu’s CEO, Sinon Vongkusolkit, expansion efforts will mainly focus on Texas, where Banpu already operates two gas-fired plants through its listed affiliate.
Soaring U.S. electricity requirements are being propelled in part by a surge in data centers supporting AI and cloud services, tightening supply in certain regions and providing opportunities for new investments in power generation. At the start of 2026, the U.S. hosts around 5,427 data centers—roughly 45% of the world’s total—with key concentrations in Texas and Virginia, as reported by cloudscene.com.
Industry forecasts highlight significant future investment, with McKinsey projecting global capital expenditures on data center infrastructure to approach $6.7 trillion by 2030. The U.S. is expected to account for over 40% of this figure. Anticipated electricity demand from U.S. data centers is set to grow by about 460 terawatt-hours between 2023 and 2030, potentially tripling levels seen in 2025. Data center operations also contribute to increased strain on water resources.
Meanwhile, Banpu’s coal segment is experiencing unexpected momentum following disruptions in Middle East oil and gas supply, resulting in greater coal demand. On the Thai stock market, Banpu’s share price stood at THB 6.00 as of April 7, 2026, reflecting an 8% gain since the onset of the U.S.-Iran conflict, with prices peaking at THB 6.35 during this time frame.
