INNIO N.V., the manufacturer of Jenbacher and Waukesha gas engines, reported a significant increase in its equipment order backlog. By the end of the third quarter of 2026, the backlog reached $8.0 billion, up from $3.3 billion a year prior and $6.6 billion after the second quarter of 2026.
The growth is primarily driven by US-based AI data centers seeking to bypass grid connection delays by building on-site power plants. In the third quarter of 2026, orders linked to data centers accounted for approximately 60% of the company's equipment revenue.
A single unnamed US data-center developer placed orders totaling approximately 1.72 GW, split into a 1.1 GW order in July 2026 and a 620 MW follow-on in September 2026. Additionally, INNIO secured a 450 MW order from a US energy company for North American data centers, with deliveries expected by 2028.
CEO Dr. Olaf Berlien attributes the surge to high electricity demand from AI workloads and existing grid bottlenecks. The shift toward decentralized power generation creates a challenge for energy analysts, as on-site power production is often excluded from official energy statistics.
