Data Center Demand and Project Execution
Our IIR partners continue to rapidly expand their data center project database, which now exceeds 160 GW of proposed projects through 2030. Our Vulcan UC platform is currently monitoring over 150 GW of this pipeline on a weekly basis.
We pride ourselves on being more than just a data service; we are an intelligence platform. By combining our database with weekly satellite image analysis, accessible from multiple platforms, and our weekly research, we give you a powerful edge.
This week, we've examined a significant trend within the database. Over 50 GW of projects have been added since late June, with most of these being hyperscale facilities in non-ISO locations (e.g., outside of PJM, ERCOT, MISO, CAISO, etc.). The shift toward non-ISO routes may be a response to the extended timelines often seen in traditional ISO queues, even in typically efficient regions like ERCOT. The non-ISO process, which involves working directly with a local utility and the state's public utility commission, can be highly streamlined. For example, the Meta facility in Louisiana, while in MISO-South, was strongly supported by a single utility, Entergy, and the state's utility commission, leading to a much more efficient approval process than what is typical in PJM or ERCOT. SERC region offers lots of tax incentives. In addition, the behind the meter facilities would also fall under the non-ISO classification.
Uncovering Project Delays with Vulcan
While 35 GW of data center projects are projected to come online between 2025 and 2026, Vulcan sees over 8 GW (or approximately 22%) of these projects facing delays from their current timelines. We can easily verify these delays by showing there has been no construction activity at these sites. Certain states, in fact, have over 1 GW of delayed projects. Our clients have full access to these project details, from the name to the size of the project.
Below are some examples of sites not likely to meet their startup date within the 2025-2026 time period:
Texas is the second highest amount of GW likely delayed. Raymondville Cryptomining Data Center Project Kati (3536635) 83 MW in Texas planned startup date May 31, 2026, shows no land clearing or site preparation in the latest imagery. Crypto projects only represent 0.5 GW of the 8 GW. Given hash rates above 1115 EH/s and demand for power access from hyperscaler, bitcoin projects will likely slow down significantly.
Virginia has the most amount of GW likely delayed in the country for 2025-2026 projects. Warrenton Data Center (3479945) 50 MW projected located in Virginia planned startup date June 30, 2026, also shows no land clearing or site preparations in the latest imagery. There is likely zero chance this site can come online by July 2026.
Our platform's ability to track the reality on the ground empowers our clients to make more informed decisions and forecast demand with greater accuracy. By improving the precision of your one-to-three-year outlook, you gain a clearer picture of the future. This reduces uncertainty, allowing you to better size positions and mitigate risk.
For more information on Vulcan or to schedule a demo, please reach out to David Bellman, Lead Researcher / Vulcan Product Lead, at dbellman@synmax.com, or visit our website at synmax.com or email us at info@synmax.com.