• A multiphase, nearly US$4 billion campus anchored by a long‑term power agreement with Calpine’s Thad Hill gas plant.
• The project combines ECP’s energy expertise and KKR’s CyrusOne data centre platform to meet surging AI compute demand and support grid resilience.
What happened:Bosque County hyperscale development
Energy Capital Partners (ECP) and global investment firm KKR have announced plans to build a hyperscale data centre campus in Bosque County, Texas — about 30 miles south of Dallas–Fort Worth. The initial phase will provide 144 MW of IT capacity over more than 700,000 square feet, with scope to scale up to 190 MW and total an investment of nearly US$4 billion.
Crucially, the site is co‑located with Calpine’s Thad Hill natural‑gas power plant. Calpine has signed a long‑term agreement to supply dedicated power to the campus, creating what is believed to be a first‑of‑its‑kind integrated power‑and‑compute model for a hyperscaler client. Construction is already under way, with operations expected to begin in Q4 2026. The campus is being delivered via a joint venture with CyrusOne, which KKR co‑owns through its data‑centre platform, and ECP.
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Why it’s important
This facility marks the inaugural deployment of a broader US$50 billion partnership between ECP and KKR aimed at scaling AI‑ready infrastructure across the United States. By pairing dedicated power supply directly with hyperscale compute capacity, the venture addresses key bottlenecks: land availability, power reliability and grid stability — particularly in the ERCOT‑managed Texas market.
The power‑purchase structure also offers resilience: Calpine’s output can be redirected to support the ERCOT grid during periods of scarcity, helping balance demand and supply locally. Sustainability is woven into the design, with climate‑neutral initiatives, water conservation and biodiversity protection features planned for the campus.
This model could become a blueprint for future developments: ECP’s ownership of Calpine (soon to be part of Constellation Energy) gives leverage in structuring similar dedicated‑power agreements across additional ECP‑owned generation assets. For hyperscalers racing to meet exponential AI demand, the integrated compute‑and‑power approach offers both certainty and rapid build‑out potential.
