01 · Investable
Cooling overlay
Open cooling rows, a buried pipe, and a 250 MWh cold storage tank. That is Phase 1: 58 MW of firm compute. The hottest hour still rejects 50.7 MW of heat.
The case
The application that gets picked.
The interconnect approval queue decides who wins compute capacity — not GPUs. Undifferentiated 50 MW interconnect filings wait. You are not buying solar. You are buying an existing grid connection and filing a load the operator can say yes to. Texas (Pecos) is the worked example. Every grid has the same two hurdles: getting power out, and getting approval to draw power in after dark.
The problem
The interconnect queue does not rank undifferentiated load.
Hundreds of gigawatts of large-load filings look the same to the grid operator: a new 50 MW hall, a new line, new water, new air permits. The filing that moves reuses a connection already in service, stays under that market’s large-load threshold, takes power the grid would otherwise spill, and can run islanded if overnight service is slow. Texas is the named example. Every wholesale market has the same two hurdles: getting power out, and getting approval to draw power in after dark.
Three propositions
Phase 0 is 50 MW, Phase 1 is 58 MW, then 153 MW, then 175 MW. Phase 3 is full off-grid.
Phase 1 is 58 MW, cooling only. Phase 2 stays on the grid with engines, 153 MW. Phase 3 is full off-grid, 175 MW.
02 · Filing
Grid + engines
153 MW of firm IT. Still on the grid. About $369.6 million a year.
03 · Option
Full off-grid
175 MW of firm IT. On the same site. About $405.2 million a year.
CFO
Economics
Phase 1 is 58 MW of firm compute. The hottest hour still rejects 50.7 MW of heat: cassette rows, a buried pipe, a 250 MWh tank, and a chiller on surplus PV.
Phase 2 stays on the grid, adds engines and the heat train, and reaches 153 MW. Phase 3 is full off-grid at 175 MW of firm IT.
EconomicsCTO
Cooling & generation
Fanless cassette rows, 3.1 MWth of buried pipe, and a 250 MWh cold storage tank. On 17 June at 15:00 the tank is at its 35 MWth limit. The chiller runs on surplus PV.
Cooling & generationCounsel
Permitting
The farm reuses the generation permit and the live interconnect. Phase 2 reaches 153 MW and stays on the grid. Phase 3 is full off-grid at 175 MW.
PermittingWorked example · 100 MWdc existing PV · Pecos, Texas
Phase 0 is 50 MW, Phase 1 is 58 MW, then 153 MW, then 175 MW on one site.
Phase 1 is the cooling plant. It is 58 MW of firm compute. The hottest hour rejects 50.7 MW of heat. Phase 2 stays on the grid, adds engines and recovered heat, and reaches 153 MW. Phase 3 is 175 MW off the grid.
- Phase 1 — cooling
- 50 MW AI
- Phase 2 — grid + engines
- 153 MW AI
- Phase 3 — off the grid
- 175 MW AI
58 MW of firm compute. The hottest hour rejects 50.7 MW of heat. The chiller runs on surplus PV.
Grid plus engines. 153 MW. About 1.87 years versus Phase 1.
Full off-grid. 175 MW. On the same acreage. 2.22 years versus Phase 1.
Starting plant is 100 MWdc on the same land. Phase 1 reject is about 35 acres. Phase 2 shares about 76. Phase 3 shares about 94 and is full off-grid. Jacket water sets the later acres. No mirror acreage is drawn.
$175.5M / year — Phase 1
58 MW of firm compute × $3 million per MW-year. A planning year, not a live meter.
$369.6M / year
Phase 2 is 153 MW. About $369.6 million a year. About 1.87 years versus Phase 1.
175 MW — full off-grid
Phase 3 is full off-grid at 175 MW. About $405.2 million a year. 2.22 years versus Phase 1.
Phase 3 is full off-grid at 175 MW. About $405.2 million a year after operating cost. 2.22 years versus Phase 1. On the same site.
The three published days are 17 June, 22 June, and 6 December. The hall is 50 MW on each of them.