Fleet Data Centers breaks ground on 2 facilities

Fleet Data Centers, a subsidiary of Tract Capital Management, has commenced construction on two new mega-scale data center campuses, South Valley and Peru Ridge, within the Tahoe Reno Industrial Center in Storey County, Nevada. These projects represent an initial $10 billion investment and are projected to deliver a combined 400 megawatts of critical computing power across 769 acres.

Chris Vonderhaar, President of Fleet Data Centers and Senior Managing Director of Tract Capital, emphasized the significance of these 200-megawatt facilities, noting they are the largest of their kind to be built in Nevada. The company has also secured $4.6 billion in financing through senior secured notes, with a major, unnamed tech giant (speculated to be Nvidia, Google, Apple, or Microsoft) committing to a 16.5-year triple-net lease for the South Valley campus.

To ensure rapid power delivery, Fleet Data Centers has filed an application with the Public Utilities Commission of Nevada for a permit to construct a temporary 144-megawatt natural gas-fueled power facility at South Valley. This temporary plant, utilizing 90 engines and 40 liquid natural gas tanks, will operate for a few years, augmenting NV Energy's power supply as it scales to meet the campuses' demands.

Grant van Rooyen, Tract Capital Management founder and chief executive officer, reiterated their enduring commitment to Storey County and Nevada, highlighting their extensive land holdings in northern Nevada that could support up to 20 gigawatts of data center power development. The South Valley campus is expected to come online in the fourth quarter of 2027, with Peru Ridge commencing operations in the third quarter of 2027.