Secured-Power Pipeline

A secured-power pipeline is the portion of a data center developer's planned capacity for which power supply has been contractually confirmed. Confirmation takes the form of a grid connection agreement, utility commitment or equivalent power supply. It separates credible projects from land holdings with only a stated ambition. IREN, for example, reports a 5 GW secured-power portfolio and says its 900 MW Redbank proposal in Australia is not included because no final grid agreement exists. Investors and analysts use the metric because power, not land or buildings, is the binding constraint in most markets: queues for large connections commonly run three to seven years. Always check whether a headline megawatt figure is secured, applied for, or only targeted.