Yuneng Holdings Invests $160 Million in Data Center Venture, Bolstering Heying Data's Expansion

Yuneng Holdings Invests $160 Million in Data Center Venture, Bolstering Heying Data's Expansion

March 25, 2026

In a significant move highlighting the deepening convergence between energy and digital infrastructure, Chinese utility Yuneng Holdings has made a strategic investment into a key shareholder of major data center operator Heying Data. The deal underscores the critical role of power supply and capital in fueling the rapid expansion of data centers, particularly to support growing demands from artificial intelligence and high-performance computing.

Yuneng Holdings, a thermal and renewable power company based in Henan province, will invest RMB 1.1 billion (approximately $160 million) to acquire a 42.3 percent stake in Xiantian Computing Power Henan Technology. The remaining 57.7 percent majority stake in Xiantian, valued at RMB 1.4 billion ($203 million), will be held by its controlling shareholder and provincial investment vehicle, Henan Investment Group.

This investment is part of a broader transaction designed to consolidate control over Heying Data, a substantial data center player also known as Hoyinn. According to a public announcement last Friday, Xiantian, in tandem with other investors, will proceed to acquire a 91.2 percent stake in Heying Data for around RMB 9.5 billion ($1.4 billion). The announcement specified that Xiantian's resulting shareholding in the data center operator “would amount to no less than 55 percent of the total equity.”

Heying Data, headquartered in Zhengzhou, Henan, is a major force in China's data center landscape. The company's website states it currently offers over 1.3 gigawatts (GW) of IT capacity across its projects, with a development pipeline exceeding 5GW. Its portfolio includes campuses near Zhangjiakou in Hebei province and at the Langfang Airport Industrial Campus near Beijing Daxing International Airport. Furthermore, Heying is the parent company of Galaxy Data Center, which last August pledged a $2 billion investment into data centers in Thailand.

The transaction signals a strategic alignment of power generation, state-backed investment, and digital infrastructure expertise. For Yuneng, it represents a direct entry into the high-growth data center sector, securing a downstream outlet for its energy assets. For Heying Data, the infusion of capital and strengthened ties with a provincial utility and investment group provides a formidable foundation to execute its multi-gigawatt expansion plans, enhancing its competitiveness in a capital-intensive industry increasingly defined by access to reliable and sustainable power. Source: datacenterdynamics