Targa buys Stakeholder

Bolt-on adds sour-gas treating, CCUS-ready midstream, and fee-based cash flow at ~6× 2026 FCF.

EnCap Flatrock-backed Stakeholder brings ~170k acres of long-term, fee-based G&P contracts, low-decline volumes, and drilling upside, plus sour gas treating, CCUS activities, and crude storage.
Expected to generate ~$200M/yr unlevered FCF with low capex; funded from Targa’s liquidity/RCF with limited leverage impact; closing targeted 1Q 2026 (regulatory approvals pending).

~1.5 GW of efficient gas capacity to power Meta’s new DC and harden the Louisiana grid.

Part of the Louisiana 100 Plan, projects aim to keep rates affordable while improving reliability and supporting industrial and digital load growth.
Expected to save customers >$650M over 15 years (aided by Meta contributions), with COD targeted late 2028 and significant local economic benefits.

Energy-as-a-Service for rooftop solar, geothermal, microgrids, and BESS in power-constrained markets.

JV will own and operate behind-the-meter assets, with no upfront capex for customers and built-in price hedging and bill savings.
Early pipeline includes deals with major real-estate owners and corporates; targeting AI loads, onshoring, and EV-driven demand in supportive Canadian policy environment.

BrainBox AI + IQ batteries cut energy use ~15% at pilot sites and turn facilities into flexible grid assets.

At three pilot GMP-style fulfillment centers, autonomous HVAC controls delivered ~15% energy reduction—more than 2× initial targets.
Now scaling to 30+ U.S. sites plus 2026 EV bidirectional charger pilots, supporting Amazon’s 2040 net-zero goal and making buildings two-way grid resources.

Fuel-retail platform for the energy transition, backed by infra specialists.

Majority stake in JET’s fuel and convenience network; Phillips 66 remains a strategic partner as minority owner.
Investors plan to leverage JET’s brand and footprint to navigate shifting fuel demand and grow low-carbon, convenience, and mobility services.

250 MW electrolysis + 75 ktpa methanation to export carbon-neutral gas to Japan.

Aims for FID in 2027 and commercial start ~2030; Japanese partners (combined 33.3% stake) plan to offtake e-NG to meet Japan’s 1% carbon-neutral gas by 2030 target.
Uses Nebraska renewable power and bioethanol CO₂ to produce synthetic methane fully compatible with existing LNG and gas infrastructure, advancing global decarbonization of gas use.

Scaled war chest for AI-era digital infra: hyperscale DCs, fiber, towers, and edge.

Includes $7.2B fund commitments + $4.5B LP co-invests; early capital already going into platforms like Vantage DC NA, Yondr, FiberNow, JTOWER, Orange Barrel.
Builds on 30 years of infra experience; focused on high-growth, high-conviction themes around AI and cloud connectivity.

Modular, long-duration solar heat + power for heavy industry, data centers, and grids.

Funds will scale an Energy-as-a-Service model, upsize systems to 3.5 MW, and drive costs down via mass manufacturing.
MIT-derived tech delivers high-temperature heat and around-the-clock power, targeting >25% cost cuts and up to 95% emissions reductions across six continents.