Delivering capital assets and infrastructure systems to power the next economy

Infrastructure

Infrastructure services

For a century, the US built the arteries of a physical economy. Power grids, telecommunications, roads, bridges, and railways. Infrastructure that moved goods, connected regions, and kept industry running.


A new era is taking shape.

In the digital economy, billions of data points pulse through systems every second. Now, AI isn’t just accelerating that pulse. It’s supercharging it. In turn, what counts as infrastructure is expanding beyond traditional assets to include data centers, renewable energy, storage systems, microgrids, and smart networks. At the same time, geopolitical pressures are driving advanced manufacturing back on US soil, adding to the infrastructure load.

As new classes of capital assets enter the infrastructure ecosystem, the bar is being raised on how these assets are delivered in terms of speed, resilience, reliability, and transparency. The pressure to move—and move fast—is intensifying. PwC research estimates $33 trillion in US infrastructure investment is needed over the next 25 years to keep pace.

This is more than just a forecast. It’s a catalyst.

But this investment cycle won't look like anything that came before it. The challenge isn't building bigger. It's building everything at once. The organizations financing and delivering new infrastructure such as technology companies, utilities, developers, and hyperscalers, are managing multiple projects simultaneously across sectors, geographies, and risk profiles. As capital flows from governments, corporates, private equity, and institutional investors, stakeholder expectations have never been higher. The margin for error is razor thin. Every project has to deliver full value. No exceptions.

PwC doesn't treat infrastructure as a collection of standalone projects. We shape, deliver, and sustain it as an integrated system. Our multidisciplinary teams span engineering, technology, finance, tax, and sustainability, guiding CFOs, COOs and private equity leaders through every facet of the project lifecycle, from financing and planning through construction and the transition to operations. Powered by advanced AI tools and our Capital Projects Studio technology platform, we enable end-to-end project management and turn infrastructure capital into lasting capacity so every dollar performs efficiently.  

But this investment cycle won’t look like anything that came before it. The challenge isn’t building bigger. It’s building everything at once.


The infrastructure systems shaping the next era of growth

The global economy depends on electrification, data, and automation. That dependency is driving a fundamental shift. Infrastructure is no longer a collection of isolated assets. It's an interconnected system where every piece has to work together.

The energy transition. Digital acceleration. Demographic pressures. Supply chain reshoring. These forces are converging and giving rise to five core infrastructure categories that will define the next era of economic growth.  

In each of these categories of infrastructure, our specialists help companies navigate the project lifecycle, from planning through operations. Project complexity? We can help you overcome it and drive financial performance. Making an investment? Beginning with deal execution, we can help you deploy capital smarter, move faster, and drive returns.

The essential enabler of electrification and the digital economy. Investment spans generation, transmission, distribution, and storage. The modernization of US power grids will enable integration of renewables, drive innovation around small modular nuclear reactors, and serve power-intensive loads like data centers.

The connectivity engine for trade and growth. Roads, rail, ports, and airports will be re-engineered and expanded, with digital tools enabling smarter, more integrated, and lower-carbon mobility systems.

The next wave of productivity at scale. Compute growth demands coordinated investment across data centers, power grids, and enabling digital infrastructure that are built to be resilient, secure, and sustainable.

The physical footprint of reindustrialization. Facilities must be flexible, automated, and digitally enabled while tightly linking energy efficiency to power access, logistics, and supply chain systems.

The backbone of community and workforce productivity. Healthcare, education, and community assets need upgrading and expansion, often requiring new delivery models that balance affordability, resilience, and long-term performance.


Who we support

Companies 

We guide companies through infrastructure decisions that support growth strategies, operational resilience, decarbonization, and stakeholder value creation.

  • Plan: Define infrastructure strategies, investment cases, and delivery models aligned to business growth and performance goals.
  • Finance: Design capital structures and commercial models that support growth, resilience, and returns with tax advice, debt, and equity structuring and fundraising support.
  • Procure: Develop procurement and partnership strategies that optimize cost, capability, and manage risks.
  • Build: Lead complex programs with strong delivery controls, supply chain transformation, and commissioning support.
  • Operate: Enhance asset performance through optimization, analytics, resilience, compliance, and performance improvement.
  • Exit: Support acquisitions, divestment, and decommissioning.

Investors

We support infrastructure investors across the full investment life cycle—from origination and platform design through transactions, active ownership, and exit—helping turn capital into long-term value

  • Plan: Originate and assess investment opportunities, define platform and portfolio strategies, and allocate capital in line with risk-return objectives and long-term investment goals.
  • Structure & fundraise: Design, fund, platform, and transaction structures that meet regulatory and tax requirements, with support across capital structuring, debt and equity raising, co-investment, and refinancing.
  • Deploy capital: Execute acquisitions and platform build-out through lead advisory, valuation, commercial, financial, and technical due diligence, and transaction support—deploying capital with pace and discipline.
  • Operate: Post deal integration services, including HR and transformation advisory; asset and portfolio performance improvement through operational optimization, operating model transformation, cost and capital efficiency, digital enablement, and sustainability integration.
  • Exit: Support value-realizing exits through asset disposal, concession expiry, decommissioning and wind-down, including sell-side diligence, transaction support, and residual risk improvement.

AI-powered capital delivery: See what’s coming so you can keep your projects on track

As infrastructure programs grow in scale and complexity, companies are managing multiple projects across geographies at once. The old playbook of project tools that tell you what already happened is obsolete.

PwC's Capital Projects Studio was built for this moment. It harnesses AI, including machine learning, and advanced analytics to fundamentally reshape how leaders manage high-stakes capital portfolios. One unified platform that integrates strategy, financing, execution, and performance. One source of forward-looking intelligence that turns complexity into competitive advantage.

It delivers four critical capabilities:  

Deploys AI-driven insights to improve scope, schedule, risk, and performance management, transforming uncertainty into controlled delivery so problems are spotted before they cascade.

Strengthens investment decisions through enhanced business case modeling, stakeholder alignment, and portfolio governance that connects capital strategy to frontline execution.

Integrates financing structures, deal terms, and tax incentives early in the planning process to maximize value creation and minimize time to operational cash flow.

Transitions assets seamlessly into operations with embedded resilience, cybersecurity, and performance management that sustains value over the asset lifecycle.


Have questions about navigating the infrastructure investment cycle?

PwC specialists work with leaders on pressing business and operational issues to help you answer the following questions:

  • How should companies prioritize capital when data centers, power delivery, manufacturing expansion, and new energy systems are all competing for investment?
  • What is slowing large infrastructure investments today?
  • How can CFOs connect capital allocation decisions to delivery timing, cost control, and long-term asset performance?
  • What helps reduce schedule pressure and cost overruns in large infrastructure programs?
  • How can companies move faster on data center development when power, permitting, and grid capacity are constrained?
  • What should companies evaluate before expanding manufacturing capacity in the US?
  • How are power delivery and grid modernization shaping infrastructure decisions?
  • When should nuclear or small modular reactors enter the infrastructure planning conversation?
  • How can investors and operators evaluate infrastructure opportunities across financing, delivery, and operations?
  • What role do tax credits, incentives, and structuring decisions play early in the infrastructure lifecycle?  

US Perspective | Global Infrastructure Outlook

$33 trillion in projected US investment needs by 2050

Capital Projects and Infrastructure

Design, fund, and scale capital projects

Contact us

J.C. Lapierre

J.C. Lapierre

Sustainability Leader, PwC US

Daryl  Walcroft

Daryl Walcroft

US Capital Projects and Infrastructure Leader, PwC US

Rob McCeney

Rob McCeney

Partner, Energy & Infrastructure Deals, PwC US

Thomas Hylton

Thomas Hylton

Principal, Real Estate and Infrastructure Tax, PwC US

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