Tract Completes Acquisition of 2,200 Acres in Storey County, Nevada and Partners with NV Energy to Deliver Two Gigawatts of Power Capacity
Master-planned data center development expected to receive initial power delivery in 2026
October 02, 2023 10:03 ET| Source: TractFollow
DENVER, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Tract, a developer of master-planned data center parks, announced its recent acquisition of more than 2,200 acres of land inside the Tahoe-Reno Industrial Center (TRI) in Storey County, NV. The total acreage is comprised of two areas commonly referred to as the Peru Shelf and South Valley. In addition to the land, Tract also controls over 1,100 acre feet of water rights and has commitments from NV Energy to deliver over two gigawatts of power, beginning in 2026.
The greater Reno market has solidified its position as a data center cluster, with hyperscalers like Google, Apple and Microsoft establishing roots in the market along with wholesale providers like EdgeCore and NOVVA. These operators recognize the benefits of direct long haul fiber paths to the Bay Area offering three milliseconds of latency, while taking advantage of lower power costs, lower taxes, lower risks and lower regulations than they would face in California.
“We look forward to working with Tract on their future plans for northern Nevada and welcome them to the state,” said Governor Joe Lombardo. “As the Nevada economy continues to diversify, technology companies will be a key component of our growth.”
A key success factor in building a hyperscale data center ecosystem is scalable utility power. Tract has engaged with NV Energy to develop a long-term plan to bring over two gigawatts of electricity to the two Tract sites. “We have been working with Tract for nearly a year now and are excited to partner with them on these projects,” explained NV Energy President and CEO Doug Cannon. “These data center parks will be some of the biggest consumers of energy on our system. Tract’s approach of long-range planning allows us to engage and collaborate early to ensure reliable, affordable and sustainable power will be delivered.”
In addition to the data centers that have established campuses in Storey County, TRI has attracted billions in investment from technology, manufacturing and logistics companies like Tesla, Redwood Materials and Walmart. This convergence of economic activity was enabled by TRI’s forward-thinking development agreement, which allows for a wide range of pre-approved uses, seven-day grading permits, 30-day building permits and robust infrastructure managed by the TRI General Improvement District.
“We appreciate the relationships we have built with NV Energy, Storey County, TRI and the State of Nevada. We look forward to building on those partnerships for decades to come,” noted Grant van Rooyen, CEO of Tract. “Our customers are facing challenges resulting from their rapid growth. We believe our master-planned, shovel ready campuses will allow them to leverage our investments to gain the speed and certainty that they prioritize.”
Tract was advised by L. Lance Gilman Commercial Real Estate.
About Tract
Tract is a team of digital infrastructure experts dedicated to accelerating responsible data center growth. Tract acquires, zones, entitles, and develops master-planned data center parks to provide Data Center end users with speed and certainty. Tract land has access to pre-positioned power, water, and fiber in key markets where hyperscale and wholesale demand is going. Our approach is collaborative with cities and counties to ensure development is targeted for the optimal locations to maximize the revenue and economic development benefits for the community, while being good stewards of the land and minimizing the impact on neighbors. Tract is headquartered in Denver, Colorado, with real estate holdings throughout the United States.
