ONE Nuclear Energy has reportedly signed a binding letter of intent (LOI) to secure the site for “Project Cayman,” a 2.88 GW natural gas power project with a co-located data center campus in Vermilion Parish, Louisiana.
The project reportedly involves building 2.88 GW of natural gas-fired generation together with a 700MW/2.88GWh battery energy storage system (BESS), alongside a co-located data center campus. The LOI was signed on August 31, 2026, with regional public hearings scheduled between September and December, it is reported. The gas turbine model and EPC (Engineering, Procurement and Construction) contractor have not yet been finalized, it is reported.
The project is planned with 2.88 GW of generation capacity and a 700MW/2.88GWh battery energy storage system. The LOI was signed on August 31, 2026, it is reported.
The project is viewed as part of a wave of US investment in new gas-fired generation paired with battery storage in response to surging data center power demand, it is reported.
Co-locating large-scale gas power generation with a data center on a single site is seen as a case illustrating a development trend for power projects responding to rising electricity demand driven by the expansion of the artificial intelligence (AI) industry.
The outcome of the September-December regional public hearings and whether the gas turbine model and EPC contractor are finalized are worth watching.