Gray Oak Power was recently featured in an article by Hana Askren from MergerMarket, the leading global platform for M&A intelligence, in a profile covering our approach to firm power generation for hyperscale data centers. The feature highlights the urgency of the power challenge facing data center developers today and how we’re built to address it.

Gray Oak’s CEO, Emilio Vicens, mentioned that Gray Oak is actively developing five to ten greenfield power generation sites, each designed to serve data center campuses directly bypassing slow grid interconnection queues entirely. 

Tim Radcliffe, managing director at Denham Capital, also said that the projects are structured in staged phases of a few hundred megawatts, scaling to a gigawatt or more as demand grows, with capital costs in the range of $2M to $2.5M per MW financed through the project finance market.

MergerMarket also covers our technology-agnostic approach: Gray Oak Power pursues natural gas, renewables, or whichever solution is financeable and right for the site. 

The recently announced partnership with small modular reactor company First American Nuclear Co (FANCO) is highlighted, allowing Gray Oak to manage sites for nuclear compatibility while delivering power from other sources in the near term.

Radcliffe noted that the project finance market can serve as a low-cost capital source for this asset class with terms comparable to renewables, given the balance sheet strength of the hyperscalers backing long-term power purchase agreements.

Read the full MergerMarket feature on Gray Oak Power:

Gray Oak Power developing data center energy projects with backing from Denham (account required to access)