Schneider Electric to invest more than $700 million in US energy sector

French giant Schneider Electric will invest more than $700 million in the U.S. energy sector over the next two years, the White House reposted Tuesday. This would be the largest planned investment in the utility's 135-year history in the U.S. market.

The European industrial monopoly said the investment would create more than 1,000 new jobs and that the "vast majority" of the capital would go toward manufacturing electrical equipment, including expansions at its factories in Missouri, Ohio and Tennessee, according to a Financial Times report.

"There’s an industrial renaissance happening in the US. It requires us to think differently about energy systems, about resiliency, about efficiency, about interactions with the grid, and frankly, about automation," said Aamir Paul, director of Schneider Electric for North America, in a statement.

In addition to expanding its manufacturing capacity, Schneider Electric will open a lab in Massachusetts to test power systems for the A.I. data center market and an innovation center in Texas.

North America is Schneider Electric's largest market

While there had been rumors of these investments days earlier, today's announcement marks the first time the company has made public plans for accumulated capital to participate in the U.S. market.

The news comes to light at a time when the flood of foreign investment into the country has skyrocketed following the inauguration of the Trump administration, and executives are seeking to minimize the new president's tariff threats.

This is also occurring while the country is bidding to lead in artificial intelligence and has placed renewed focus on domestic manufacturing, and while the U.S. electricity system is experiencing a historic increase in energy demand.

U.S. electricity consumption, which is at record levels, is expected to grow another 16% by 2029, Grid Strategies published in a recent report.

North America is the largest and fastest-growing market for the French company, accounting for 36% of its revenue, according to Schneider Electric.