The Interconnect

Weekly power market intelligence for data center developers and energy asset holders navigating U.S. ISO and RTO markets.

$47B changed hands in data center infrastructure this week. The constraint was never capital.

Jul 24, 2026

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1 min read

$47B changed hands in data center infrastructure this week. The constraint was never capital.

Brookfield bought Aypa for $7B. GIP closed Aligned for $40B. A $12B Kentucky campus has no power source. The bottleneck is interconnection rights and local approval, and that is not changing.

OpenAI just contracted 3.2 GW with Georgia Power through 2032. The template for frontier AI compute just changed.

Jul 23, 2026

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1 min read

OpenAI just contracted 3.2 GW with Georgia Power through 2032. The template for frontier AI compute just changed.

Project Camellia is not a lease or a PPA. OpenAI is self-developing at utility scale and signing decade-long offtake. Every developer with a creditworthy anchor needs to understand what this unlocks.

BlackRock just deployed $52B into data center infrastructure in one week. Here's what that does to ERCOT west Texas.

Jul 22, 2026

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1 min read

BlackRock just deployed $52B into data center infrastructure in one week. Here's what that does to ERCOT west Texas.

A $12B debt sale for Meta's El Paso campus and a $40B acquisition close make BlackRock the most consequential single actor in U.S. data center infrastructure. The grid implications are immediate.

MISO, New Mexico, and the U.S. Senate all moved on the queue this week. The interconnection path is now the deal.

Jul 21, 2026

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1 min read

MISO, New Mexico, and the U.S. Senate all moved on the queue this week. The interconnection path is now the deal.

A dedicated expedited queue for large loads, a Western large-load tariff working group, and a Senate bill to mandate connect-and-manage at every RTO. The standard process is being routed around at every level.

Google just bet $50B on MISO South. The load interconnection request that follows this deal is the one to watch.

Jul 20, 2026

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1 min read

Google just bet $50B on MISO South. The load interconnection request that follows this deal is the one to watch.

2.5 GW of solar, 2.9 GWh of storage, Arkansas, and an anchor investor structure that signals where the campus goes next.

FERC just ended the voluntary era for data center loads

Jul 19, 2026

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1 min read

FERC just ended the voluntary era for data center loads

Plus PJM's third straight capacity shortfall, Virginia's first-in-the-nation kWh tax, and a 1 GW ERCOT campus.