AI is driving a 3.5x surge in electricity demand by 2030. That requires compressing a decade of utility capex into just five years.
The muni market is the financing channel. Tax-advantaged structures are making municipal bonds the preferred debt vehicle for the next generation of U.S. energy infrastructure.
High yield munis capture the yield premium. Project-based industrial revenue bonds, many below investment grade, are where the income opportunity is most concentrated.
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AI-driven electricity demand is forcing a decade of infrastructure spending into five years. The municipal bond market is becoming a primary financing channel for that buildout, creating income opportunity.
