# Ageing infrastructure is a goldmine for investors

> Decades-old roads, bridges and power grids need replacing, creating major opportunities in utilities and infrastructure stocks.
- Title: Ageing infrastructure is a goldmine for investors · MoneyWeek
- Summary: Decades-old roads, bridges and power grids need replacing, creating major opportunities in utilities and infrastructure stocks. Infrastructure built in the…
- Keywords: infrastructure investment, utilities sector, capital expenditure, ageing infrastructure, jean-hugues de lamaze, ecofin global utilities and infrastructu, power generation, electrification, artificial intelligence datacentres, electric vehicles, water management, veolia
- Source: MoneyWeek — https://moneyweek.com/investments/jean-hugues-de-lamaze-moneyweek-talks
- Published: 2026-09-23T04:00:00+00:00
- Read time: 1 min
- Topics: infrastructure investment, utilities sector, capital expenditure, ageing infrastructure, jean-hugues de lamaze, ecofin global utilities and infrastructu, power generation, electrification, artificial intelligence datacentres, electric vehicles, water management, veolia
## Infrastructure boom is coming
Utilities and infrastructure now offer growth prospects beyond steady income. Ageing networks built post-World War Two need urgent replacement, creating major investment opportunities.
## Spending on infrastructure collapsed
Capital expenditure on infrastructure fell from around 5-6% of budgets decades ago to just 2.5-3% today, leaving roads, bridges and airports crumbling.
## Power shortage is driving demand
AI datacentres and electric vehicles need massive electricity. The UK phased out coal (once 50% of supply) without investing in nuclear, creating a power scarcity that will last decades.

> We are relying increasingly on intermittent power generation resources, such as wind and solar.
## Renewable energy needs backup
Wind and solar are intermittent, so the grid needs more power generation capacity and storage. This creates long-term demand for infrastructure investment over the next 20 years.
## Water scarcity is a global problem
Urban areas worldwide face severe water shortages. Companies like Veolia, the French water operator, are positioned to profit from this growing global market opportunity.

> Water faces a major scarcity phenomenon in urban areas worldwide.
## Toll roads pass inflation to users
Toll road operators automatically raise prices with inflation. French motorway tolls jumped from 5 euros to 5.30 euros year-on-year, providing reliable revenue growth.

> It's a nice inflation pass-through revenue.
## Key takeaway

Infrastructure built in the 1950s-70s is now obsolete and requires massive capital spending, while AI datacentres and electric vehicles are driving new demand for power.