By Razvan Toma · Founder & CEO, Ampervia · Last checked 2026-10-13 · Sources linked below
The US market is sold out: 1% vacancy for a third year and 66 GW under construction. New grid requests are slow or paused in the top markets: Texas froze new data center approvals in August 2026 and Phoenix’s largest utility has taken no new commitments since 2024. The deals that still close either buy power that is already in service or have a documented near-term route to it: a 5-acre Texas site with 15 MW of existing utility service sold for $8.25 million, about $550,000 per MW. Sources (4)JLLJLL — data center demand exceeds expectations in H1 2026 (11 Aug 2026)↗Utility DiveUtility Dive — Oncor weighs impact of Texas data center freeze on nearly 300-GW load pipeline (7 Aug 2026)↗KJZZKJZZ — APS says it can't commit to new data centers because of grid constraints (2 Sep 2026)↗
SECSEC — AIB Data Centers Form 8-K: two linked Texas site purchases (Sep 2026)↗
What buyers ask for here
| Who | Where | Size | What they buy | Written |
|---|---|---|---|---|
| Data center operator, site-selection team | North America | Not yet shared | Sites for own development | Jul 2026 |
One operator has told us in writing that its focus is North America; its size and stage requirements are not yet on file. Anonymised; stated requirements, not commitments to buy a specific site.
The playbook that works in closed markets
| Route | How it works | Recent example |
|---|---|---|
| Existing service: a site with power in place | Acquire an industrial or data site whose utility service already exists, then expand. | Texas, Sep 2026: 5 acres with 15 MW of existing service and a building shell for $8.25m. The adjacent 24 acres, with 40 MW still to be delivered, cost $8.98m, of which $6m is paid only when the utility places the facilities in service. Sources (2) |
| Existing service: a powered industrial site | Take over an operating industrial connection and seek an upgrade. | Hood County, near Dallas–Fort Worth, Jul 2026: about $10m for 30 acres (with an option on 20 more) and 17 MW operating. The upgrade to 111 MW is subject to ERCOT validation. Sources (2) |
| Deliverable new power: smaller sites | Land with a documented, near-term connection. In Texas, sites under 75 MW fall outside the large-load process; that is not an automatic connection, and a campus cannot be split to get under it. | Two greenfield parcels of 45 MW and 47 MW near Houston, served by nearby operating substations and expected to be energized within 12 months; a 36 MW first phase east of Dallas. Sources (2)DatapranaDataprana — acquires 92 MW in Houston metro (23 Jun 2026)↗FlexentialFlexential — new Dallas-area campus on 110 acres in Kaufman County (28 Jul 2026)↗ |
| Deliverable new power: beside a substation | Land next to a substation with spare capacity. | Irving, Dallas–Fort Worth: a 200 MW campus with immediate access to an existing adjacent substation. PowerHouse Data Centers |
| Existing service at scale: mines and smelters | Reuse a large connection another industry built. These are much bigger businesses than a single small site. | West Texas: a former bitcoin mine delivered 133 MW to an AI tenant in Jul 2026. Kentucky: a closed smelter’s energized substation now backs a 401 MW, 20-year lease. Sources (2)The BlockThe Block — Galaxy delivers 133 MW to CoreWeave as Helios bitcoin mine turns AI hub (Jul 2026)↗Data Center FrontierData Center Frontier — TeraWulf's $19B Anthropic lease and its brownfield strategy (Jul 2026)↗ |
| Generation-backed | Fuel cells or gas turbines on site, with a power partner, until or instead of the grid. | Northern Virginia: one campus approved fuel cells after a five-year grid quote; another plans 60 MW of fuel cells as primary power. Sources (2)Prince William TimesPrince William Times — power crunch keeps data centers in the dark (Jul 2026)↗ |
Where it is open, and where it is not
| Market | Status for a new site | Why |
|---|---|---|
| Dallas–Fort Worth | New large loads paused; live-power and sub-75 MW sites trading | The governor’s August 2026 order paused new data center interconnection approvals pending an audit. Sites with energized service or under 75 MW are still changing hands. Sources (3)Utility DiveUtility Dive — Oncor weighs impact of Texas data center freeze on nearly 300-GW load pipeline (7 Aug 2026)↗Colocation ScoutColocation Scout — AIB Data Centers buys a 29.4-acre Texas site with 15 MW of utility service and 40 MW more contracted (Sep 2026)↗ |
| West Texas | Grid paused; on-site power | New campuses bring their own generation: Abilene added a 900 MW behind-the-meter site in 2026. Sources (2)Data Center KnowledgeData Center Knowledge — Crusoe expands Abilene AI campus with a 900 MW behind-the-meter site (Mar 2026)↗Utility DiveUtility Dive — Oncor weighs impact of Texas data center freeze on nearly 300-GW load pipeline (7 Aug 2026)↗ |
| Phoenix | Largely closed (APS); case by case (SRP) | APS has made no new data center commitments since 1 January 2024 and has about 4,000 MW already allocated. SRP studies large customers in a queue and bills new 20 MW+ accounts on at least 80% of forecast load. Sources (2)KJZZKJZZ — APS says it can't commit to new data centers because of grid constraints (2 Sep 2026)↗SRPSRP — data centers and SRP (large customer integration process, minimum billing)↗ |
| Central Ohio | Closed until about 2031 | AEP’s study found none of 13,022.7 MW of new data center load can be reliably served before a regional transmission project due about Q4 2031. At least 138 Ohio municipalities and townships have moratoriums. Sources (2)AEP OhioAEP Ohio — data center tariff load study letter (7 Nov 2025, PDF)↗Ohio Capital JournalOhio Capital Journal — Ohio has over 125 active moratoriums on data centers (18 Sep 2026)↗ |
| Indiana | Open through utility contracts | A large-load tariff applies from 70 MW at Indiana Michigan Power; Indianapolis approved incentives for a 250 MW campus in September 2026. Sources (2)Utility DiveUtility Dive — Indiana regulators approve large-load interconnection settlement (Feb 2025)↗WFYIWFYI — Indianapolis approves $240 million tax break for a data center campus (16 Sep 2026)↗ |
| The Carolinas | Open under large-load terms | Duke Energy signs service agreements with loads of 50 MW or more under customer-protection terms that apply from June 2026. Duke Energy |
| Louisiana | Open at hyperscale, with new generation | Entergy is building more than 5 GW of new gas generation, financed by the customer, for one campus. ENR |
| Kentucky and Pennsylvania brownfield | Proven route | A closed aluminium smelter with about 480 MW available and a retired coal-plant site both sold for data centers in 2025–2026. Sources (2)Spectrum NewsSpectrum News — Century sells Hawesville aluminum smelter site for a data center (Feb 2026)↗ |
Where sites come from
The sites that work are the ones with power already attached: energized industrial sites, former bitcoin mines and smelters, land beside a substation with spare capacity. Ampervia’s US research is early: six sites, not yet verified to the European standard, all idled industrial plants with an existing grid tie. Sources (3)Colocation ScoutColocation Scout — AIB Data Centers buys a 29.4-acre Texas site with 15 MW of utility service and 40 MW more contracted (Sep 2026)↗DCDDCD — Big Digital Energy acquires land for a 311 MW campus outside Dallas-Fort Worth (Jul 2026)↗Spectrum NewsSpectrum News — Century sells Hawesville aluminum smelter site for a data center (Feb 2026)↗
How the power is won
Power is won utility by utility. Texas studies loads of 75 MW and above in batches and has paused new approvals during a statewide audit. Arizona’s APS is not taking new data center commitments. AEP Ohio cannot serve new central-Ohio load before about 2031. Duke in the Carolinas and Indiana’s utilities still sign large-load agreements. Equipment on a property is not usable power: a substation’s rating, a plant’s past consumption and contracted data center capacity are three different things, and only the utility’s service agreement settles which one a buyer gets. Sources (5)Utility DiveUtility Dive — Oncor weighs impact of Texas data center freeze on nearly 300-GW load pipeline (7 Aug 2026)↗KJZZKJZZ — APS says it can't commit to new data centers because of grid constraints (2 Sep 2026)↗AEP OhioAEP Ohio — data center tariff load study letter (7 Nov 2025, PDF)↗Duke EnergyDuke Energy — agreement to protect customers from data center costs (2026)↗Data Center KnowledgeData Center Knowledge — Crusoe expands Abilene AI campus with a 900 MW behind-the-meter site (Mar 2026)↗
Planning and regulation
Local opposition is now a siting factor in its own right. Ohio alone has at least 138 municipalities and townships with active data center moratoriums and 23 effective bans; Pima County, Arizona, adopted a 120-day moratorium in September 2026. Check the township before the substation. Sources (2)Ohio Capital JournalOhio Capital Journal — Ohio has over 125 active moratoriums on data centers (18 Sep 2026)↗AZ LuminariaAZ Luminaria — Pima County supervisors approve data center moratorium (23 Sep 2026)↗
Land and price benchmarks
Land is priced by committed power. Altus puts the median at $2.8 million an acre in Northern Virginia, $100,000–460,000 in central Ohio, Phoenix and Atlanta, and as low as $28,000 where no utility load is committed. Microsoft paid $131 million for 100 acres beside its Goodyear, Arizona campus in 2026; a retired coal-plant site of about 47 acres near Pittsburgh sold for $14.3 million. Sources (3)Altus GroupAltus Group — where value is created in data center land (Jun 2026)↗DCDDCD — Microsoft purchases 100 acres next to its Goodyear, Arizona campus (Jun 2026)↗
DCDDCD — Cheswick power plant site in Pennsylvania sold for $14.3m for data center development (Dec 2025)↗
Data and rules
- US view of the Ampervia Powered-Land Map (early research)
- Powered-land deals dataset
- Powered land price per MW
Sources
JLLSources (2)Utility DiveUtility Dive — Oncor weighs impact of Texas data center freeze on nearly 300-GW load pipeline (7 Aug 2026)↗Utility DiveUtility Dive — Indiana regulators approve large-load interconnection settlement (Feb 2025)↗KJZZ
SECColocation ScoutSources (4)
DCDDCD — Big Digital Energy acquires land for a 311 MW campus outside Dallas-Fort Worth (Jul 2026)↗
DCDDCD — Microsoft purchases 100 acres next to its Goodyear, Arizona campus (Jun 2026)↗
DCDDCD — Cheswick power plant site in Pennsylvania sold for $14.3m for data center development (Dec 2025)↗
DCDDCD — T5 Data Centers plans 60 MW of fuel cells as primary power in Dulles, Virginia (May 2026)↗Spectrum NewsAEP OhioDuke EnergyData Center KnowledgeOhio Capital JournalAZ LuminariaAltus GroupSRPWFYIENRThe Energy MagDatapranaFlexentialPowerHouse Data CentersThe BlockData Center FrontierPrince William Times
Last checked 2026-10-13. Aggregates and anonymised requirements only; no candidate site, owner or municipality is identified.