Topic: ERCOT batch process hurdles for McLennan, Mikeska, and Colchis sites
Key points:
ERCOT is in a batch process with constant meetings and final tweaks; a meeting occurred yesterday.
The three sites have completed all requirements laid out to qualify for batch 0 approval, which should be finalized next month (June).
ERCOT has changed requirements and delayed the batch process over time; interconnect approval is the gateway to tenant discussions.
Mgmt stance: Neutral — confident sites have done necessary steps, but final outcome depends on ERCOT’s evolving process; awaiting June finalization.
Q7 — Mike Grondahl
Topic: Likelihood of new site acquisitions on pipeline slide by year-end 2026
Key points:
Inbound opportunities have increased as company becomes better known, but most are far out (e.g., 2030) and not sensible.
ERCOT process finalization will require large deposits (double-digit millions), which may create opportunities from less-capitalized developers seeking partners.
Company is focused on building its existing 4+ gigawatts pipeline.
Mgmt stance: Cautiously optimistic — potential wave of inbound opportunities from ERCOT process, but no exact forecast; current pipeline keeps them busy.