Data center firm working on 2 campuses at Tahoe Reno Industrial Center
Fleet Data Centers, a subsidiary of Tract Capital Management, has broken ground on its second data center campus at Tahoe Reno Industrial Center in Nevada, investing $10 billion across two projects, South Valley and Peru Ridge. These campuses will provide a combined 400 megawatts of critical compute power. Additionally, Fleet Data Centers has applied to the Public Utilities Commission of Nevada for a temporary 144MW natural gas-fueled power facility for the South Valley campus to accelerate power delivery.
Fleet Data Centers, a subsidiary of Tract Capital Management, has commenced construction on its second data center campus within the Tahoe Reno Industrial Center in Nevada. This expansion includes two major projects, South Valley and Peru Ridge, which represent a combined investment of $10 billion. These facilities are designed to deliver 400 megawatts of critical compute power and are described as the largest data centers built in Nevada, surpassing previous projects by approximately 50MW per campus.
Chris Vonderhaar, president of Fleet Data Centers and senior managing director of Tract Capital, emphasized the company's commitment to solidifying Nevada's position as a leading Tier-1 data center market globally. The South Valley and Peru Ridge campuses will occupy 769 acres with dual two-story buildings, and the company holds extensive additional land in Northern Nevada, including 1,600 acres at South Valley and 1,200 acres at Peru Ridge, allowing for significant future development up to 1215MW and 1040MW respectively.
To ensure timely power delivery for its customer, identified as a $3 trillion market cap company (speculated to be Nvidia, Alphabet, Apple, or Microsoft), Fleet Data Centers recently filed an application with the Public Utilities Commission of Nevada. This application seeks permission for a temporary 144MW natural gas-fueled power facility at the South Valley campus. This temporary plant, utilizing 90 engines and 40 liquid natural gas tanks, is intended to operate for a few years, augmenting power supply until NV Energy can fully scale its delivery to the campus. The total investment, including equipment and fit-out, could reach $40 billion.
Initial power loads are expected in Q3 for Peru Ridge and Q4 for South Valley, with the South Valley campus projected to come online in Q4 2027. Grant van Rooyen, Tract Capital Management founder and CEO, highlighted the significant capital already deployed at risk and the importance of predictable regulatory environments. He reiterated the company's long-term commitment to Storey County and Nevada, projecting data center development and operations in the region for at least two decades.