Power availability
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Financing and contracts Power contracts
TeraWulf Says an Amended Electric Service Agreement Increases the Contracted Power at Its Muskie Data Campus
TeraWulf's release of October 5, 2026 says an amended and restated electric service agreement with a utility increases the contracted power capacity at its Muskie Data Campus in eastern Kentucky, and advances the planned delivery of the campus's second phase from 2030 to 2029, "subject to Kentucky Public Service Commission approval" and the utility's construction schedule.
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Secured or in Advanced Stage: The Data Center Power Pipeline in Prologis's Results for the Third Quarter of 2026
Prologis's supplemental information for the third quarter of 2026 gives its data center power pipeline as "secured or in advanced stage." Its notes define each kind of power, and say of the second that "There is no guarantee that such capacity will become secured power."
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Financing and contracts Financing
To Secure Access to Power: Funding for AI in the Reserve Bank of Australia's Financial Stability Review of October 2026
The Reserve Bank of Australia's Financial Stability Review of October 2026 carries a box on how the AI build-out is funded. It says that "to secure access to power, data centre developers are increasingly obtaining large bank-sponsored letters of credit that guarantee the costs of grid and generation upgrades required to connect new facilities."
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Its Powered Land Bank: Harworth's Update on Its Data Center Pipeline
On August 19, 2026, Harworth, a land and development business, said it had entered into an exclusivity agreement with a data center provider for a powered land sale at a second site. Its update lists up to six hyperscale data center land sales it says it can target, and where their power stands, from accepted power connection offers to anticipated power availability.
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Behind the meter Building and running the plant
Not the Result of Any Particular Event: Rising Forced Outage Rates in NERC's 2026 State of Reliability Overview
NERC's 2026 State of Reliability overview, dated June 24, 2026, reports that the weighted equivalent forced outage rate of conventional generation rose in 2025, with coal and combined-cycle units the primary drivers. Owners of some of the units cited equipment destruction and supply chain constraints that prolonged their outages.
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Secured, and in Advanced Stages of Procurement: Goodman's Power Bank in Its Half-Year Results
Goodman Group's results for the half year ended December 31, 2025 report a "power bank" on its sites, part of it secured power and part of it in advanced stages of procurement. Its chief executive called the scale and locations of the group's "powered land bank" rare.
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Power, Not Space: Risk Factors on Power in Equinix's Annual Report for 2025
In its annual report for 2025, signed on February 11, 2026, Equinix says that in certain instances it has had difficulty securing energy supply it contracted for or needs for its expansion plans, that its ability to find partners and sites for expansion may be limited by access to power, and that power, not space, is a limiting factor in many of its data centers. It expects limited availability of water and power and grid constraints in many markets to continue.
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Financing and contracts Financing
Construction, Power Availability and Tenant Concentration: A BIS Bulletin on Financing the AI Boom
A BIS Bulletin of January 7, 2026 says the size of anticipated AI investment needs will require firms to shift from operating cash flows to debt, with private credit playing a rapidly increasing role. It names power availability among the risks that may put that financing outside traditional bank and bond financing. The views are its authors'.
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Financing and contracts Financing
Access to Power and the Debt Behind AI: A Box in the Bank of England's Financial Stability Report of December 2025
In its Financial Stability Report of December 2025, the Bank of England's Financial Policy Committee says debt financing in the AI sector is increasing quickly. A box on AI counts "the degree of physical constraints to rapid AI infrastructure development (most likely access to power)" among its sources of uncertainty, and says that if access to power acts as a bottleneck, for example through delays in connecting new AI data centers to the grid, it can weigh on their credit risk.
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Access to Power Capacity: Alphabet's Data Center Energy Strategy Call of November 2025
Asked on the call whether the primary constraint is "power availability, or construction labor and trade resources," Alphabet's head of data center energy named "access to power capacity" first, and the skilled labor to build and connect that power with it: "It's really a both/and."
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Evidence of Utility Partnerships for Power Enablement: OpenAI's Request for Site Proposals of January 2025
OpenAI's request for proposals of January 30, 2025, made on behalf of Stargate, sought "Site (land and power) proposals" for large AI data centers, and set out what a proposal should show about its power, including a "Clear power ramp and max power availability" and "Evidence of utility partnerships for power enablement, both as a power supplier and as an interconnect partner."
