62 major AI infrastructure transactions 2015–2026, mapped through a single lens: financeability. Not which deals happened — which megawatts are scarce, bankable, and likely to transact next.
Total megawatts controlled by each acquirer across all disclosed transactions 2015–2026. Energised MW = operating today. Total MW includes contracted and pipeline capacity.
Every deal addition, status update, and platform change — full primary research audit trail. Electron Economics maintains a living dataset; this log documents every material revision since launch.
Who is acquiring control of future powered capacity, at what implied $/MW, and with what execution risk? 62 transactions (2015–2026) classified by deal logic, power risk score, and financeability tier — all primary research from SEC filings, FERC dockets, utility IRP filings, and press releases.
| Date | Asset / Deal | Type | Buyer | Value ($B) | MW | $/MW ($M) | Power Source | Grid Access | ISO / Utility | Deal Logic | Power Risk | Financeability | Tenant | Execution | Status | Conf. |
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Every data center deal is a power delivery deal. This view reframes the transaction record through one lens: what was the power delivery status at announcement, and who wore the grid access risk?
The governing thesis. Capital is not the binding constraint in AI infrastructure. De-risked, energised, bankable megawatts are. A campus without a firm interconnection agreement and a credible energisation schedule cannot be financed — not because lenders are squeamish, but because without a delivery date there is no lease commencement date, and without that there are no contracted cash flows to lend against.
The financeability tier below reflects one primary research question applied to each transaction: at announcement, did the deal have (1) a firm interconnection agreement or equivalent grid bypass, (2) a signed offtake or anchor lease, and (3) a construction finance path? All three → Bankable. Missing one → Probable. Missing two → Conditional. Missing all three or development-stage announced capacity → Pre-finance.
The nuclear PPA pattern. Amazon's 960 MW Crane Clean Energy Center PPA and Microsoft's 10.5 GW Brookfield PPA are not sustainability plays. They are financing manoeuvres: nuclear and long-duration renewables already have interconnection and a delivery date. The PPA premium is less about carbon than about schedule certainty — which is what converts announced MW into bankable MW.
All transactions ordered by date. Color: green=closed, purple=pending/announced, red=canceled. Click any entry to open detail.
Five analytical exhibits drawn from 62 transactions 2015–2026. Each answers a question practitioners actually ask — not what happened, but what it means for financeability, scarcity, and exit timing.
Transaction concentration, MW volume, and power risk by ISO territory and utility zone. Bubble size = transaction value. Color = power risk score. Click any ISO card to filter the deal list.
Operators scored on likelihood of coming to market within 36 months, based on sponsor hold duration, leverage profile, occupancy trajectory, power risk, and strategic review signals. All primary research assessment — no third-party data.
Scoring methodology. Seller score 1–5 is a primary research judgment combining four factors: (1) hold duration — PE sponsors typically target 3–7 year holds; assets beyond 5 years are under natural exit pressure. (2) financeability — Conditional assets face refinancing friction that accelerates sale timing. (3) execution slippage — delayed energisation reduces LP patience. (4) market comparables — recent comp transactions set a mark that motivates seller crystallisation. Score 3+ warrants active monitoring.
Disclaimer. This is analytical inference from public signals — hold duration, deal vintage, transaction structure, and power risk — not insider information. Treat as a hypothesis, not a prediction.
Select any transaction to read an institutional-grade deal brief: strategic significance, power delivery analysis, financing implications, comparable transactions, and structural observations.