IDF, Oaktree back USD 1.7 billion Bloom fuel cell build-out for Nebius AI cloud infrastructure
BE•IDF and Oaktree back Bloom fuel cell deployment for Nebius
- Industrial Development Funding, backed by Oaktree, committed USD 1.7 billion to deploy Bloom Energy fuel cells for Nebius AI cloud infrastructure.
- The project targets dedicated behind-the-meter power to support AI data center availability requirements.
- Morgan Stanley acted as sole tax equity investor and placement agent for tax equity financing; MUFG Bank provided senior debt financing.
- The investment expands IDF’s Bloom project portfolio to more than USD 2.6 billion.
