$28 per MWh. Energized ahead of the queue.
Teton Digital develops vertically integrated power generation and Tier-compatible data center campuses across Alberta and the United States. We bring our own power onto our own sites — and deliver capacity two to five years ahead of grid-dependent alternatives.
THE MACRO PROBLEM
Power, not silicon, is the binding constraint on AI.
New grid interconnections in major U.S. hubs now take four to seven years. The interconnection queue stands at roughly 1,500 gigawatts. Hyperscalers and AI operators are increasingly committing capital to dedicated, behind-the-meter generation because the alternative is waiting for a grid that cannot move at the pace of compute demand.
1,500 GW
U.S. grid interconnection queue backlog
Source: Lawrence Berkeley National Lab / U.S. DOE, 2025
4–7 yrs
Wait time for new grid connections in major U.S. hubs
Source: LBNL / DOE, 2025
$800B+
Expected 2026 AI infrastructure, compute, and data center capex
Source: Morgan Stanley Research
+165%
Data center power demand growth through 2030
Source: Goldman Sachs Research
Three structural advantages.
Built together, by design.
Lowest power economics in North America
Teton's flagship project delivers all-in cash cost of power at approximately $28 per MWh — roughly a quarter of the all-in delivered cost in major U.S. data center markets, and approximately $300M+ in annualized OPEX savings per 500 MW deployed versus a Virginia-equivalent site.
~$28/MWh
all-in, Year-1 cash
Years ahead of the queue
We bring our own power onto our own sites, which lets us energize compute capacity two to five years ahead of grid-dependent alternatives. Our flagship Alberta project is permitted and tracking to Q3 2028 — two to three years ahead of every other Alberta power and data center project in the queue.
2–5 yrs
faster than grid-dependent
Vertically integrated
Power and campus are developed together — generation, interconnection, fiber, water, and Tier-compatible data hall pads on one site, under one sponsor. From land acquisition through operations, we own the full lifecycle.
One site.
One sponsor.
Power at $28 per MWh.
Teton sites projects where natural gas is structurally cheap, where the climate reduces cooling load, and where regulators are actively incentivizing new dispatchable generation.
AECO-hub natural gas has historically traded approximately 40% below NYMEX / Henry Hub. The Alberta climate reduces cooling load and improves PUE to below 1.25 versus 1.35–1.41 in major southern U.S. markets. Alberta levies zero tariffs on imported compute equipment.
The result is all-in cash cost of power that no U.S.-sited builder can match — with the savings to match.| Virginia | Texas | Alberta (Teton) | |
|---|---|---|---|
| All-in delivered power ($/MWh) | ~$105 | ~$50 | ~$28 |
| Average PUE | 1.35 | 1.41 | <1.25 |
| Tariffs on compute equipment | Variable | Variable | None |
| Interconnection queue (typical) | 4–7 yrs | 3–5 yrs | Direct path, Behind the Meter |
Alberta figure: Year-1 (2028) cash cost of power for Black Bear on a behind-the-meter delivery basis. Buildup: fuel + variable O&M / LTSA + maintenance reserve + net TIER carbon + fixed SG&A. Source: Black Bear project financial model. Virginia and Texas figures sourced to PJM and EIA STEO 2026 forecast. Annualized OPEX savings = (Virginia $/MWh − Alberta $/MWh) × 500 MW × 8,760 hours × 90% capacity factor. Excludes capital recovery and equity return.
in annualized OPEX savings per 500 MW deployed in Alberta versus a Virginia-equivalent site.
Two flagship Alberta projects.
3 GW+ pipeline.
First power energizes this year. Northern Forge Phase I (30 MW) comes online Q4 2026, with subsequent capacity additions through 2027. Black Bear (466 MW) energizes Q3 2028 with a defined pathway to ~3 GW across the campus. Additional U.S. pipeline spans North Dakota, Iowa, and Texas. Scale across three years — 2026, 2027, 2028.
466 MW NGCC + ~2,500-acre Tier-compatible campus, ~3 GW pathway.
Ready to build. Fully permitted federally, provincially, and at the Indigenous level. AESO Cluster 3 filed.
Q3 2028
~$28/MWh Year-1 cash basis
125 MW behind-the-meter gas-to-compute campus.
Permits largely in hand. 10-year firm gas supply. Dedicated 6-inch pipeline for the full 125 MW build.
Phase I (30 MW) Q4 2026
<$30/MWh long-term
- North Dakota100 MW Tier 3 campus. Conditional Use Permit secured for Phase II.
- Iowa50+ MW behind-the-meter solar + gas hybrid. 10-yr fixed PPA at ~$40/MWh.
- Texas256 MW behind-the-meter. ERCOT interconnect approved. 15-yr fixed at ~$35/MWh.
News.
Teton Digital Gets Go-Ahead for 100MW Data Center in North Dakota
Data Center Dynamics covers Phase II conditional use permit approval for Teton's North Dakota campus.
Read on DCD →Northern Forge Phase I energization
Anticipated milestone — first power from the 30 MW Phase I behind-the-meter site.
AESO Cluster 3 progress
Anticipated milestone — Black Bear Cluster 3 interconnection process step.
What We Do:
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Data Center Development
Building data centers from the ground up. We build data centers that are strategically located to maximize operational efficiencies and long-term business stability.
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Vertically Integrated Power Generation
Creating reliable and cost-effective data centers in any environment.
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Data Center Services
Whether you need help building your own data center, optimizing your energy assets, or need colocation services Teton Digital can help.
