One asset.
Two pathways.

Interconnection classification, reliability studies, and cost allocation for large co-located load

Internal source tag US02

Location

Pennsylvania

Grid / utility

PJM / PPL Electric transmission zone

Status at corpus cutoff

RESTRUCTURED; OPERATIONAL

Power model

Revised nuclear PPA plus public-grid delivery; April 2026 front-of-meter transition confirmed in Q2-2026 filing. Up to 1,920 MW is the contractual future maximum, not current campus load.

Power evidence

Susquehanna nuclear output under long-term PPA; electricity physically remains within PJM arrangements

Legal dependency

FERC Order 189 FERC ¶61,078; PJM interconnection service agreement

Contract dependency

Long-term offtake reduces merchant exposure; termination protection not established

Capacity boundary

Maximum power under revised PPA through 2042; not current delivered campus load

Uncertainty

Filed disclosure confirms April 2026 transition, but current delivered campus load is not established. PPA can serve more than the adjacent campus.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER

NRC approvals, restoration schedule, environmental permits, and delivery before contracted date

Internal source tag US04

Location

Pennsylvania

Grid / utility

PJM

Status at corpus cutoff

PERMITTING; UNDER_CONSTRUCTION

Power model

Long-term grid-delivered nuclear PPA supporting restart; physical and legal delivery terms only partly public.

Power evidence

Grid-delivered nuclear PPA. Microsoft purchases energy to match PJM data-center use; no dedicated wire, specified receiving campus, or financial-only contract character is established.

Legal dependency

NRC restart reviews and Pennsylvania DEP permits

Contract dependency

PPA supports restart revenue; delay/termination remedies not public

Capacity boundary

Approximate plant output after successful restart; not current delivered capacity

Uncertainty

Regulatory status controls over promotional timing. Draft environmental findings and state certification are not permission to operate; remaining restart and NPDES actions are unresolved.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER

Converting projected 2 GW campus scale into staged, contracted, grid-served capacity

Internal source tag US05

Location

Nevada

Grid / utility

NV Energy / WECC

Status at corpus cutoff

OPERATIONAL

Power model

Utility supply plus power-purchase/renewable attribute arrangements

Power evidence

NV Energy supply and long-term renewable power arrangements; Switch claims 100% renewable operations

Legal dependency

Utility tariffs, land development approvals, and customer contracts

Contract dependency

Allocation of delay, nonperformance and termination is not public.

Capacity boundary

Projected campus up to 2 GW and TR2 building design up to 55 MW; neither is measured current operating IT load or proven energized phase capacity.

Uncertainty

SEC and utility sources were link-only; company claims are not independent verification of uptime or renewable physicality.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER

Coordinating data-center construction with generation, transmission, substation, and regulatory schedule

Internal source tag US01

Location

Louisiana

Grid / utility

Entergy Louisiana / MISO

Status at corpus cutoff

UNDER_CONSTRUCTION

Power model

Bespoke utility service with dedicated facilities and customer protections in a public commission proceeding

Power evidence

Entergy grid and approved gas-generation buildout; settlement authorizes a 1,500 MW renewable-procurement mechanism. No current physical delivery of that renewable amount is established.

Legal dependency

LPSC Order U-37425, effective 2025-08-29, and public settlement conditions; local permit inventory incomplete.

Contract dependency

CIAC covers listed network additions; guarantees/minimum charges and early-termination filing conditions appear in public settlement. No full risk elimination established.

Capacity boundary

Compute capacity stated by Meta; not equivalent to verified electric demand

Uncertainty

Current Meta page contains internally inconsistent 5 GW and over-2-GW language; compute capacity is not treated as electric load.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER

How does an investor-owned utility affiliate sponsor generation dedicated to a hyperscaler's electricity demand?

Internal source tag US07

Issued / announced

2026-10-14

Evidence status

ANNOUNCED · 702 MW planned, 0 MW verified energized

Location

Near Cheyenne, Wyoming; exact plant-to-data-centre route is not published in the announcement

Developer / owner

Cheyenne Fuel Cell, LLC (approximately 92% AEP; 8% Basalt-advised funds)

Generation technology

Bloom Energy natural-gas fuel cells; carbon capture integration planned

Planned capacity

702 MW; proposed USD 4 billion investment

Construction / operation

Construction planned for 2026, full operation expected end 2028; NOT verified energized

Commercial counterpart

20-year Google PPA; see Contract US-T502

Public-law dependency

Detailed siting permissions, utility interconnection and retail-service structure not established from this announcement

Source record: approved research update · 2026-10-19 · primary/official source; original 2026-09 Excel corpus preserved

Water transparency, municipal capacity, and equitable allocation of infrastructure benefits

Internal source tag US06

Location

Oregon

Grid / utility

Northern Wasco County PUD / BPA-linked Northwest grid

Status at corpus cutoff

OPERATIONAL; EXPANDING

Power model

Municipal/public-utility service embedded in regional grid

Power evidence

Northwest grid supply and Google portfolio procurement; site-specific hourly physical match not established

Legal dependency

Municipal agreements, Oregon strategic investment program, water rights and public-record processes

Contract dependency

Allocation of delay, nonperformance and termination is not public.

Capacity boundary

No reliable project electrical or IT MW located

Uncertainty

No verified site MW; reported PUE is company data, and some municipal water records remain contested or summarized.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER

Synchronizing extreme compute deployment with grid upgrades, air permitting, and community legitimacy

Internal source tag US03

Location

Tennessee

Grid / utility

Memphis Light, Gas and Water / Tennessee Valley Authority

Status at corpus cutoff

OPERATIONAL; EXPANDING

Power model

Municipal-utility service with customer-funded upgrades, curtailment agreement, and temporary on-site generation

Power evidence

MLGW/TVA grid; permit records cover on-site gas generation (15 specified turbines in 2025 construction permit; proposed reduction to 12 in 2026 notice). Historical unpermitted-use allegations remain attributed.

Legal dependency

TVA/MLGW service process; Shelby construction permit 01156-01PC and later operating-permit notice; environmental objections and review remain distinct from findings.

Contract dependency

No verified minimum-bill/termination formula in accessed utility update

Capacity boundary

Documented grid supply across two substations; not total facility maximum

Uncertainty

Memphis sites are not merged. Permit issuance, proposed operating-permit conversion, allegations and appeal outcome are separate procedural states. Full turbine inventory and final appeal disposition require verified records.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER

Turning regional wind availability into temporally matched compute consumption

Internal source tag CN05

Location

Hebei

Grid / utility

Zhangjiakou / Zhangbei grid region; contracted utility legal entity not verified.

Status at corpus cutoff

OPERATIONAL

Power model

Grid-connected hyperscale load using regional renewable market transactions

Power evidence

Market-purchased wind under a four-party mechanism; renewable share reported above 50%

Legal dependency

Energy-consumption review, project filings, electricity-market arrangements

Contract dependency

Allocation of delay, nonperformance and termination is not public.

Capacity boundary

No reliable project electrical MW located; 4,000 racks and up to 100,000 servers reported

Uncertainty

Some electrical assets belong to the broader Zhangbei base, not solely Miaotan; sustainability outcomes are reported rather than independently measured. Alibaba 2025 workload-shifting and 13,680 GJ heat statements concern a Zhangbei data center without naming Miaotan; retained only as broader-region context.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER

Synchronizing compute load with dedicated generation and storage while preventing reverse export

Internal source tag CN04

Location

Inner Mongolia

Grid / utility

Inner Mongolia power system

Status at corpus cutoff

OPERATIONAL; EXPANDING

Power model

Source-grid-load-storage direct connection with load-before-generation sequencing

Power evidence

Dedicated wind/solar design, storage and grid interface; direct-linkage and output reports do not establish full hourly matching or complete commissioning.

Contract dependency

Conditional rule: if actual post-operation load underperforms declared curve and causes wind/solar curtailment, relevant enterprises and municipality bear investment loss. No actual loss proven.

Capacity boundary

Conditional implementation-notice load design; not firm delivered/commissioned power.

Uncertainty

Reported operating status is not a commissioning certificate. The loss rule is contingent, and no actual demand collapse or curtailment loss is proven.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER

How do physical direct-supply lines for incremental compute load coexist with bilateral green-power trading for existing load?

Internal source tag CN07

Issued / announced

2026-05-02

Evidence status

500 MW PV CONFIRMED OPERATIONAL 2026-05-02 · additional 1,500 MW wind NOT verified commissioned

Location

Zhongwei, Ningxia; project associated with the Zhongwei Cloud Base

Verified installed generation

500 MW PV project commissioned 2026-05-02

Separate planned generation

1,500 MW wind described in official May publication as planned for September 2026; no later commissioning evidence verified in this update

Power arrangement

Physical dedicated transmission for new/incremental loads; bilateral market transactions for existing loads

Project-scale caveat

Broader first-phase plan totals 2 GW (0.5 GW PV + 1.5 GW wind); this figure is NOT verified operational capacity

Evidence basis

Datang statement republished by SASAC and NEA-affiliated information source; commissioning was described by project developer

Source record: approved research update · 2026-10-19 · primary/official source; original 2026-09 Excel corpus preserved

Preserving contract continuity and power access while separating operating assets and the incoming-line asset

Internal source tag CN01

Location

Jiangsu

Grid / utility

Jiangsu grid / Kunshan power bureau

Status at corpus cutoff

OPERATIONAL

Power model

Grid-served wholesale colocation with electricity excluded from hosting fee

Power evidence

Jiangsu/Kunshan grid; customers bear metered electricity through pass-through model

Legal dependency

SSE REIT rules, fund/ABS contracts, land title, VATS license, asset-transfer agreements

Contract dependency

Renewal agreements lack dedicated renewal-breach liability and future fee/growth terms; demand, collection and access risk remain.

Capacity boundary

Designed rack electrical capacity across 4,192 racks; not total facility load

Uncertainty

March and June 2026 prospectus updates state no supplementary due diligence or material asset refresh. Most asset facts remain as of March 2025; no later renewal outcome or full-year 2025 operating dataset established. Customer identities and terms are disclosed as of 2025-03-31; Shanghai Telecom's initial term ended 2025-07-31 and later renewal/current status is not established.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER

Customer concentration, ramping nearly 500 MW, and converting renewable availability into delivered clean power

Internal source tag CN02

Location

Hebei

Grid / utility

Zhangjiakou / Huailai grid region; contracted utility legal entity not verified.

Status at corpus cutoff

OPERATIONAL; EXPANDING

Power model

Grid-connected wholesale campuses with long-term customer contracts and regional renewable procurement

Power evidence

Huailai regional grid (contracted legal entity not verified); 2024 Huailai green procurement share reported above 30%, not hourly physical matching.

Legal dependency

Enterprise approvals, grid construction contracts, customer service agreements

Contract dependency

Allocation of delay, nonperformance and termination is not public.

Capacity boundary

Government/company aggregate for operating plus under-construction Huailai capacity; not current energized IT load

Uncertainty

Some figures are corporate or county-level and cannot be allocated precisely to one campus; the 2022 20-F was link-only. FLAGSHIP_EVIDENCE_GAP — CN02 is retained solely for its customer-concentrated private-wholesale/ownership-transition mechanism. Core contract and concentration evidence is company-wide, the nearly 500 MW figure is a Huailai operating-plus-construction aggregate, and no complete site-level permit, commissioning, utility-contract, financing or impact file was recovered. Environmental completeness is 2 because the required multi-track search was performed and logged; it does not imply favorable findings or absence of issues. Exclude CN02 from precise timing, capacity and project-outcome comparisons.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER

Synchronizing data halls, phase-specific grid supply and customer utilization. Regional renewable works are contextual, not a verified project supply entitlement.

Internal source tag CN03

Location

Gansu

Grid / utility

State Grid Gansu

Status at corpus cutoff

OPERATIONAL; EXPANDING

Power model

Grid-connected state-carrier project in a national compute hub; 110 kV works reported. Renewable aggregation is cluster context; project allocation and delivery contract not established.

Power evidence

Public-grid supply; project-specific electricity mix not established. The Qingyang cluster renewable-aggregation program is regional context, not verified supply allocation to China Telecom.

Legal dependency

NDRC hub approval, planning permit, EPC procurement

Contract dependency

Allocation of delay, nonperformance and termination is not public.

Capacity boundary

Renewable aggregation program first-phase/program scale; not data-center IT load

Uncertainty

Several current sources were link-only; 1,000 MW refers to an energy program, not compute capacity. FLAGSHIP_EVIDENCE_GAP — CN03 is retained for the state-carrier national-hub and staggered compute/grid/renewable delivery mechanism. Four of five sources are URL-only; 1,000 MW is renewable-program scale, not compute capacity; and the substation, permit, customer-contract, financing and operating-impact files remain incomplete. Environmental completeness is 2 because the required multi-track search was performed and logged; it does not imply favorable findings or absence of issues.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER

Reconcile building expansion, grid/substation delivery and energy-review authorization; rectification closure remains unresolved in accessed records.

Internal source tag CN06

Location

Guangdong

Grid / utility

Guangdong Power Grid, Qingyuan Power Supply Bureau; Southern Grid region.

Status at corpus cutoff

OPERATIONAL; EXPANDING

Power model

Grid-connected phased campus with limited on-site renewable generation

Power evidence

Guangdong grid plus 6.6 MW rooftop solar connected in 2021

Legal dependency

Energy-review approved scale and utility-support ceiling constrain lawful power access. 2023 rectification ordered; no later closure, withdrawal or final compliance finding verified.

Contract dependency

Allocation of delay, nonperformance and termination is not public.

Capacity boundary

2019 plan: 300,000 servers, not MW. 2023 inspection: 7,950 cabinets at 7.2 kW plus 480 at 6 kW, equivalent to 24,048 standard 2.5-kW cabinets; approved 1,728 equivalents. Design/inspection cabinet ratings are not measured IT MW. 6.6 MW PV is generation nameplate.

Uncertainty

No rectification acceptance/closure or revised energy-review instrument verified after the 2023 order. Do not infer current illegality or compliance. Do not combine Qingxin and Qingcheng, annual kWh with peak MW, or PV nameplate with compute load.

Corpus reference: CR03_Project_Casebook_Database(1).xlsx · 02_PROJECT_MASTER