The U.S. power-generation sector has been punctuated by a deluge of deal flow as of late, as industry players pile in to capture opportunities brought about by soaring electricity demand.

Several mergers and acquisitions crossing the $1 billion mark, as well as investments by esteemed infrastructure investors in pipelines, natural gas and other power-generation assets, point to the continued momentum in the space, further fueled by the data center boom and ramp-up of artificial intelligence.

The year kicked off with Constellation announcing plans to acquire Calpine Corp. in a colossal cash and stock deal valued at $16.4 billion. Constellation, already the nation’s largest producer of 24/7 emissions-free electricity, will join forces with Calpine, the largest U.S. producer of energy from low-emission natural gas generation, including the largest geothermal generation operation in the United States. The combination creates the nation’s largest clean energy provider a