Sheet 01 — Powered Land
Land is easy. Powered land is the product.
We buy and joint-venture ground with real interconnection, or a clear path to it. If you hold that kind of land, we should talk.
What "powered" means
Five conditions, met before we call it inventory.
"Powered land" gets claimed loosely in this industry. Our definition is stricter, because our tenants' schedules depend on it.
- PL-1Power at the fence. An executed interconnection with a dated energization path.
- PL-2Fiber diversity. Two or more long-haul routes within reach.
- PL-3Water certainty. Closed-loop design keeps draw near zero. The little we need is contracted.
- PL-4Entitlement in hand. Zoning, noise, and tax settled with the county before a module ships.
- PL-5Community alignment. We arrive early, hire locally, and build campuses counties want more of.
How we screen
The underwriting ledger.
Every site is scored against the same ledger before a dollar moves. Most fail.
| Criterion | Threshold | Why it matters |
|---|---|---|
| Interconnection | ≥300 MW executable within 36 months; 138 kV+ adjacency | Energization dates you can put in a lease, not a letter of intent. |
| Acreage & geometry | ≥300 AC contiguous, expansion optioned | Room for phased 48 MW blocks, substation, and setbacks the county is comfortable with. |
| Fiber | 2+ diverse long-haul routes ≤10 mi | Our tenants require diverse routes before they sign. |
| Water | Closed-loop feasible; 0 potable gal/day for cooling at steady state | Water is the first thing counties ask about. Our answer is near zero. |
| Community & tax | Pre-negotiated agreements; local hiring plan | Unsettled entitlement turns into schedule risk. We settle it before closing. |
| Natural hazard | Outside 500-yr flood; seismic/wind engineered to locale | Sites are engineered for the life of the hold, not the first lease. |
Land, carried all the way
From first walk to first megawatt.
Identify & control
Grid-first screening across ERCOT, PJM, SERC, and APAC corridors. We close on our balance sheet in days.
Weeks 0–6Entitle & align
Zoning, tax, noise, water, and community agreements negotiated in parallel by our in-house land team.
Months 1–6Interconnect
Queue management, substation design, and long-lead procurement carried by Ferrock. Transformers are bought before tenants sign.
Months 3–18Energize & deliver
The site graduates to the Eight-Month Standard: Brightray modules land, sitework finishes, load goes live.
8 monthsThree structures
Sell it, contribute it, or build it with us.
Estate timing, tax basis, appetite for upside. Every position is different, and we have closed each structure below more than once.
Certainty, priced for what it's worth
A clean sale at powered-land value, not farmland comps. No financing contingency. LOI to deed in as little as nine days.
9-day record close · All cashKeep equity in the campus
Contribute your ground into the campus entity and hold units alongside our families. We carry all development capital, and the campus you hold equity in has tenants, not projections.
You hold campus equity · We fund 100%Income for a generation
A long-term ground position with a share of campus revenue, for families who never want to sell the dirt.
99-yr structures · Revenue share
For landowners
Own ground near transmission? Let's walk it.
We carry our own diligence, close fast, and build what we buy. A first conversation takes an hour.