Moiseus Infrastructure Brief — No. 08
Every week we cut the noise to a handful of stories that matter — and add what they mean from where we sit. This is our read, not a news wire.
Data-center capital spending is now forecast to pass $3 trillion by 2030
Dell’Oro Group nearly doubled its 2030 outlook in seven months, projecting global data-center capex above $3 trillion and assuming worldwide data-center power capacity climbs past 200 GW.
A forecast that doubles in seven months is not a forecast — it is an admission that nobody has sized this yet. The number to watch is not the $3 trillion; it is the 200 GW, because megawatts are the one input that cannot be manufactured on demand.
PJM files a framework at FERC for data centers that bring their own power
The proposal sets terms for large loads arriving with their own generation, creates an Interim Resource Adequacy Service for those that do not, and adds an emergency procedure that curtails new large loads before residential customers.
This is the moment the grid formally splits large loads into two classes: those that bring power and those that borrow it. The first class gets a queue; the second gets curtailed first. Owning generation stops being a cost line and becomes a permission slip.
A 1.5 GW West Texas campus plans to skip the grid connection entirely
Prometheus Hyperscale intends to build an islanded campus in Reeves County on pipeline gas — with a path to 2.5 GW — sidestepping the initial ERCOT interconnection process, though the project still hinges on landing a customer.
Going islanded trades one hard problem for another: you escape the queue but inherit fuel supply, air permits, redundancy and financing. It only pencils where land, gas and permits already sit together — which is why the site, not the design, is the asset.
DOE cancels three proposed national transmission corridors
The department will not advance designation of three National Interest Electric Transmission Corridors put up for review in 2024, including routes intended to support resource adequacy in PJM.
Federal fast-tracking of new wires just got quieter, and the timeline for moving power across regions stretched again. When transmission stalls, value concentrates in generation that is already sited next to the load.
PJM has cleared more than 50 GW of new clean power — building it is another matter
Solar, wind and storage totalling over 50 GW now have the right to connect across PJM’s 13 states, but financing, offtake and construction still stand between approval and electrons.
Queue approval is not capacity. The gap between “cleared to connect” and “energized” is measured in years of steel, capital and labor — and that gap is precisely where the scarcity premium lives.
Capital is doubling, rules are hardening, wires are stalling: every path around the power constraint now runs through owning the site and the generation on it. That is exactly where Moiseus Capital looks.
This material is for general informational purposes only. It is market commentary and reflects our own views. It is not an offer to sell or a solicitation of an offer to buy any security, and it is not investment advice. Moiseus Capital Corp is not currently offering securities. Third-party headlines are summarized and attributed to their sources; all trademarks belong to their respective owners.