Secured, and in Advanced Stages of Procurement: Goodman's Power Bank in Its Half-Year Results

Goodman Group owns, develops and manages logistics properties and data centers, and it is listed on the Australian Securities Exchange. On February 19, 2026 it released its results for the half year ended December 31, 2025. Among the highlights is a figure the group calls its "global power bank." Parts of the release follow, not the whole. Its dollar figures are Australian dollars.

A Bank of Power on Owned Sites

The release puts the global power bank at 6.0 GW across 16 major global cities. It says the bank consists of 3.6 GW of "secured power" and 2.4 GW "in advanced stages of procurement."

The total power bank, in the release's words, "has grown by 1.0 GW to 6.0 GW." Increased power, the release says, "relates to Goodman sites in Australia, Continental Europe and North America." In the chief executive's statement inside the release, the bank sits on sites the group owns, across 16 metro markets. The same statement says that "Power, sites and capital are critical to being able to service demand and provide delivery certainty for customers."

Work Under Way, and Work Expected

Data centers made up 73% of development work in progress. The footnote that defines the measure says it "relates to active developments across Goodman and its investments in associates and joint ventures," which it collectively calls Partnerships. In most cases, it says, the measure is "the projected end value of projects." However, "for certain longer dated projects that are in the early stages of development, WIP is the estimated cost of land and committed works." SYD01, which the release calls "a 90 MW data centre in Sydney, Australia," was commencing in the first half.

About 0.5 GW of work was expected to be underway by the end of June 2026, with expansion capacity of 1.3 GW "available on those activated sites." By June 30, 2026, Goodman expected to have more than $14 billion of data center projects in work in progress, "on sites with secured power connections and owned by the Group or Partnerships." Those are expectations.

Building Into Demand

The release says the group is commencing data center projects alongside customer negotiations. The chief executive says engagement with data center customers is "progressing well across multiple sites," with "commitments expected in 2026."

In the outlook, the chief executive says that "The scale and locations of our powered land bank is rare." The next sentence reads, "Construction-ready powered sites take many years to acquire, plan, secure power, undertake infrastructure works, and ultimately deliver."