I Squared Capital and Low Carbon Infrastructure Announce Landmark Clean Power Partnership with Google
400 MW Broadwing Energy to Pioneer Commercial-Scale Carbon Capture and Sequestration, Setting a Blueprint for Reliable, Low-Carbon Electricity in the U.S.
I Squared Capital, a leading global infrastructure investor, and its portfolio company Low Carbon Infrastructure (LCI) today announced a landmark clean energy partnership with Google to develop Broadwing Energy, a state-of-the-art natural gas-fired cogeneration power plant integrated with carbon capture and sequestration (CCS) technology. The facility, located in Decatur, Illinois, is designed to generate more than 400 megawatts of clean, reliable power while capturing and permanently storing over 90% of its CO₂ emissions.
This project represents the first-ever corporate offtake agreement for a CCS-enabled power plant, highlighting a novel approach to scaling firm, low-carbon energy that complements renewable energy sources such as wind and solar. Broadwing Energy’s deployment of CCS technology underscores the growing recognition that carbon capture is a critical component of achieving deep decarbonization in the power sector.
“This partnership underscores how private investment, technology innovation, and corporate energy demand can come together to deliver scalable climate solutions,” said Gautam Bhandari, Global Chief Investment Officer and Managing Partner of I Squared Capital. “At I Squared, we are focused on building the next generation of clean, reliable, and resilient infrastructure — and Broadwing Energy is a defining example of that mission.”
“Broadwing demonstrates that carbon capture can be commercially viable today,” said Jonathan Wiens, Chief Executive Officer of Low Carbon Infrastructure. “Working alongside I Squared and Google, we’re proving that low-carbon power can be both affordable and reliable, while driving job creation and community investment.”
“By entering into this agreement with LCI, we hope to help prove and scale a valuable source of clean, firm power. We’re excited to support LCI in their pioneering efforts, both at Broadwing Energy and across the broader portfolio they are developing in the U.S.,” said Michael Terrell, Head of Advanced Energy at Google.
“I am proud that Google, I Squared Capital, and Low Carbon Infrastructure have chosen the ADM site in Decatur for their groundbreaking partnership to develop a carbon capture-equipped power plant,” said Governor JB Pritzker. “This is another clear indication of Illinois’ leadership in the field of clean technology innovation and will bring significant investment and quality jobs to the region.”
A New Chapter for Clean, Firm Power
Broadwing Energy will be developed on an existing Archer Daniels Midland (ADM) site in Decatur, Illinois, leveraging ADM’s decades of experience in safely handling and storing CO₂. The plant will feature the Mitsubishi Power M501JAC gas turbine, a high-efficiency unit designed to maximize electricity generation while minimizing environmental impact. Captured CO₂ will be compressed and injected into ADM’s EPA Class VI-approved wells, where it will be stored permanently more than a mile underground, providing a verified, long-term carbon reduction solution.
The engineering, procurement, and construction (EPC) of the facility will be led by Kiewit Power Constructors, one of the most experienced construction firms in large-scale energy infrastructure. Project financing is expected to reach final investment decision (FID) in Q2 2026, with commercial operations targeted for 2030. Once operational, Broadwing Energy will serve as a template for integrating CCS into future energy infrastructure, potentially catalyzing similar projects across the U.S. and globally.
Driving Economic and Environmental Impact
Beyond its environmental benefits, Broadwing Energy is expected to generate significant economic value for the region. LCI has already engaged extensively with community stakeholders to ensure the project reflects local priorities and contributes to regional development. The construction phase is projected to create approximately 650 union craft labor positions and 100 construction management and support staff over four years. Once operational, the facility will sustain dozens of permanent, well-paying jobs, providing long-term economic stability for local communities.
In addition to employment, the project will stimulate broader economic activity in central Illinois, including supply chain opportunities for equipment, engineering services, and logistics. Local universities and technical colleges are also expected to benefit, as Broadwing Energy may partner on workforce training and research initiatives related to CCS technology and clean energy innovation.
Catalyzing the Future of CCS and Clean Power
Broadwing Energy represents the first in a pipeline of CCS-enabled facilities under development by I Squared and LCI. The partnership reflects a strategic vision to expand clean, firm generation capacity across North America and to support the decarbonization of heavy industry. As corporate buyers such as Google increasingly seek low-carbon electricity solutions, projects like Broadwing Energy demonstrate that CCS can provide reliable power while significantly reducing carbon emissions.
“Broadwing is not just a power plant — it is a statement that clean, firm electricity can be scaled responsibly,” added Gautam Bhandari. “By combining advanced technology, strategic investment, and forward-looking corporate demand, we can accelerate the transition to a lower-carbon future without compromising reliability or affordability.”
The project also aligns with state and federal clean energy initiatives, highlighting Illinois’ role as a hub for innovation in carbon capture and clean infrastructure. Governor Pritzker’s support underscores the importance of public-private collaboration in realizing transformative energy projects that deliver both climate and economic benefits.
