Data center profile · James Road and La. 121, south of Boyce, Rapides Parish, Louisiana

Applied Digital Delta Forge 1

A 300 MW IT, 430 MW utility-load campus under construction near Boyce, Louisiana, fully leased to an unnamed hyperscaler for about $7.5B, with Cleco power still awaiting state approval

Under construction. Applied Digital broke ground on Jan. 22, 2026. Both 150 MW buildings under construction, first capacity in the first half of 2027, full capacity in early 2028. Cleco's power contract awaits state utility commission approval; air permit still an application.
Delta Forge 1 site core, before construction, Satellite image, Dec. 11, 2023
300 MW
critical IT capacity, two 150 MW buildings
company filings; fully leased
430 MW
ultimate utility load from Cleco
company and utility filings
$7.5B
contracted lease value over ~15 years
take-or-pay and non-cancellable, per the 10-K
$3.6B
campus investment, company says
500+ acres
OperatorApplied Digital Corporation (NASDAQ: APLD)
CustomerUnnamed U.S. investment-grade hyperscaler; two 15-year leases, about $7.5B
Planned IT capacity344 MW at full build-out (our estimate from the company or utility power figure)
First building in serviceOur estimate: 2028 (range 2028 to 2029); company says 2027.
Next deadlineMarch 2027: Cleco says it needs a state commission decision on its power contract by March 2027
From orbit

The site from above

Satellite overview1
Lower-resolution satellite image, Oct. 14, 2026. Pin: Delta Forge 1 site core, farmland, pre-construction.
From orbit

Delta Forge 1 site core

Satellite views of the same ground on Dec. 11, 2023 and Oct. 14, 2026. The later view comes from a lower-resolution satellite (10 m pixels), so it is much softer than the first. Drag to compare. What we count on the Oct. 14, 2026 image:

after
before
◀ Satellite image, Dec. 11, 2023Lower-resolution satellite image, Oct. 14, 2026 ▶
Power

Power and the grid

800 MW contracted (totals add sources with a stated size; they can overlap)

Cleco Power grid service, 15-year contractContract filed, approval pending
430 MW
430 MW ultimate load; permanent service from mid-2027, full ramp-up in 2028; commission authorization pending Utility regulator · Oct. 2026
Bridge capacity from Tenaska Frontier (Texas)Contracted, certification pending
370 MW
10-year capacity purchase from 2027; the customer pays the full cost Utility regulator · Oct. 2026
Contracted
Backup generators (emergency use, not a power supply)

Getting on the grid

Who supplies what, what it costs, and what is still not public.

  1. Dec. 2025
    State fast-track program adopted
    The Louisiana Public Service Commission adopts its Lightning Initiative for new power tied to large loads. News report · Oct. 2026
  2. May 26, 2026
    Cleco confirms service
    The state announces Cleco will power the campus. News report · Oct. 2026
  3. June 23, 2026
    Cleco files for commission approval
    Cleco asks for approval of the 15-year contract, 370 MW of bridge capacity and a new 756 MW gas plant it says it needs for all customers. Utility regulator · Oct. 2026
  4. Sept. 16, 2026
    Commission speeds up the schedule
    The commission votes unanimously to skip a judge's recommendation; a hearing is still required. News report · Oct. 2026
  5. March 2027
    Cleco's decision deadline
    Cleco says it needs a ruling by March 2027 to meet regional grid-operator processes. Utility regulator · Oct. 2026
Queue positions on record
  1. Sept. 19, 2025
    MISO queue E0048
    775 MW, active, in-service date Sept. 2028, at Rodemacher Dataset · Dec. 2025

What is next door

campus0.28 km · gas pipelinecampus0.28 km · gas pipeline

Distances from mapped lines and plants. OpenStreetMap · Oct. 2026

Permits

Permits checklist

1 enforcement · 2 pending · 3 granted

Approvals a campus like this normally needs (including an air permit for backup generators), and what we found.

Risks

What could slow it down

Money

Money on record

$7.5B
contracted lease value
two leases, about 15 years, three five-year renewals; non-cancellable SEC filing · Oct. 2026
$3.6B
campus investment, company says
Applied Digital owns the land Utility regulator · Oct. 2026
$574.9M
tax-in-lieu payments over 25 years, per the term sheet
about $27M in year one, plus $18M a year for three years (press) News report · Oct. 2026
$2.0B
preferred-stock commitment at the company level, June 2026
no campus-specific financing disclosed SEC filing · Oct. 2026
$4M
community benefit agreement with the Town of Boyce, Oct. 2026
press News report · Oct. 2026
Timeline

What happened, and what is due

SitePaper trailConstructionPowerPermitsMoneyLegalUpcoming
  1. Jan. 22, 2026
    Construction Applied Digital breaks ground, keeping the location undisclosed SEC filing · July 2026
  2. April 20, 2026
    Money First of two leases signed; the second follows Apr. 22 SEC filing · Oct. 2026
  3. April 23, 2026
    Money Company announces a new hyperscaler tenant and 300 MW of leases worth about $7.5B SEC filing · April 2026
  4. May 26, 2026
    Site State reveals the site in Rapides Parish and announces a sales-tax exemption State agency · Oct. 2026
  5. May 27, 2026
    Permits State environmental regulator cites the site for dust News report · Oct. 2026
  6. June 23, 2026
    Power Cleco files for approval of the power contract; the same day, a town hall draws skepticism News report · Oct. 2026
  7. July 18, 2026
    Site Save My Louisiana protests in Boyce News report · Oct. 2026
  8. Sept. 16, 2026
    Power Utility commission approves a faster schedule for Cleco's request News report · Oct. 2026
  9. Oct. 7, 2026
    Construction Quarterly report says both buildings are under construction SEC filing · Oct. 2026
  10. Oct. 14, 2026
    Money Town of Boyce announces a $4M community benefit agreement News report · Oct. 2026
  11. March 2027
    Power Cleco's requested deadline for a commission decision Utility regulator · Oct. 2026
Construction activity

Satellite captures by quarter

Since Dec. 2023: 2 satellite captures.

Satellite
’24
’25
’26
Dot size: records in the quarter, largest = 1. Two-digit years mark each first quarter.
The buildings

Specs

2 buildings
150 MW of IT capacity each, built in four overlapping phases
Company · Oct. 2026
672 acres
allotted in the application; 500+ acres announced, about 300 for the first two buildings
News report · Oct. 2026
1,200 to 4,800 gal a day
water commitment from the local water association, 50 gpm limit (press)
News report · Oct. 2026
200 jobs
full-time on-site, at 150% of the state average wage
State agency · Oct. 2026
1H 2027 / early 2028
first capacity and full capacity, per the Oct. 2026 quarterly report
SEC filing · Oct. 2026
Who is involved

Owners, partners and builders

Developer and owners
  • Applied Digital Corporation: developer, owner and landowner
  • APLD AEX-01 LLC and APLD AEX-02 LLC: lessor subsidiaries, one per building
Tenant
  • Unnamed subsidiary of a U.S. investment-grade hyperscaler, with an unconditional parent guarantee
Power
  • Cleco Power LLC: electric utility
  • Tenaska Frontier Partners: bridge capacity supplier
Decision-makers
  • Louisiana Public Service Commission
  • Louisiana Department of Environmental Quality
  • England Economic and Industrial Development District: tax-in-lieu counterparty
  • Town of Boyce: community benefit agreement
Opponents
  • Save My Louisiana and Boyce-area residents
Still unknown

Open questions

Where this comes from

186 records from 34 documents

Drawn from news reports, securities filings, public and commercial datasets, state agency records, company statements, utility regulator dockets, local government records, court filings and satellite captures, each kept with its date and source. The bar shows documents by type.

News report 16SEC filing 7Dataset 4State agency 2Company 2Utility regulator 1Local government 1Court filing 1Satellite 0
Evidence

Every quote behind this page

Grade key: A = the primary record itself (permit, filing, exhibit) · B = a dated official statement · C = news reporting. Map distances are our own measurements on OpenStreetMap and carry no grade. Allegations in lawsuits are marked as such in the quotes.

Power (32)
  • Name: Applied Digital Delta Forge 1
    “On January 22, 2026, we broke ground on Delta Forge 1, a 300 MW critical IT load campus located in a strategic southern U.S. market”
    SEC filing · Oct. 2026 · grade A
  • Utility service: 430 MW
    “representing an investment of approximately $3.6 billion and an ultimate electric load of up to 430 MW”
    Utility regulator · Oct. 2026 · grade A
  • IT capacity: 300 MW
    “On April 23, 2026, we entered into two approximately 15-year leases with a second U.S.-based investment-grade hyperscaler for an aggregate 300 MW of critical IT load”
    SEC filing · Oct. 2026 · grade A
  • Stated campus size: not stated
    “entered into a lease agreement with a new U.S. based high investment-grade hyperscaler at its 430 MW AI Factory campus, Delta Forge 1”
    SEC filing · Oct. 2026 · grade A
  • Power plan: grid
    “Construction on the Project broke ground in early 2026, with permanent service from Cleco Power expected to begin in mid-2027 and full ramp-up in 2028”
    Utility regulator · Oct. 2026 · grade A
  • Grid operator: MISO (MISO South)
    “evolving Midcontinent Independent System Operator, Inc. (MISO) resource adequacy requirements”
    Utility regulator · Oct. 2026 · grade A
  • utility certification application (site-specific ESA, bridge capacity, transmiss: application filed
    “Through this Application, Cleco Power seeks the Commission's authorization of a comprehensive package of agreements and investments needed to reliably serve Cleco Power's customers, including a transformative new hyperscale data center in Rapides Parish”
    Utility regulator · Oct. 2026 · grade A
  • Ground broken with the location deliberately withheld (a strategic southern U.S. market); CEO told The Register the location would be revealed later to shield the host community from attention.
    “On January 22, 2026, we broke ground on Delta Forge 1, a 300 MW critical IT load campus located in a strategic southern U.S. market”
    SEC filing · Oct. 2026 · grade A
  • Cleco's proposed 756 MW CCGT (certification sought in U-38035) is a Cleco system resource serving all customers - it is NOT campus on-site generation and is not booked in mw generation onsite. Cleco states the plant is n
    “certification of a new 756 MW combined cycle gas turbine generator along with its associated substation”
    Utility regulator · Oct. 2026 · grade A
  • Construction status: Both buildings under construction at Aug 31, 2026 (aggregate 300 MW); initial ready-for-service 1H 2027, full capacity early 2028
    “Our two buildings at our Delta Forge 1 campus, with an aggregate 300MW capacity, are currently under construction”
    SEC filing · Oct. 2026 · grade A
  • Groundbreaking date: Jan. 22, 2026
    “On January 22, 2026, we broke ground on Delta Forge 1, a 300 MW critical IT load campus located in a strategic southern U.S. market”
    SEC filing · July 2026 · grade A
  • IT capacity: 300 MW
    “This lease represents approximately $7.5 billion in total contracted value over an estimated 15-year lease term and covers 300 megawatts (MW) of critical IT load”
    SEC filing · April 2026 · grade A
  • Utility service: 430 MW
    “it has entered into a lease agreement with a new U.S. based high investment-grade hyperscaler at its 430 MW AI Factory campus, Delta Forge 1”
    SEC filing · April 2026 · grade A
  • Nearest gas pipeline: 0.28 km
    Measured on OpenStreetMap map data.
    OpenStreetMap · Oct. 2026
  • Registry status: LDEQ is the live registry for this campus: a synthetic-minor air application is filed (192 diesel emergency gensets across two buildings), construction stormwater discharge to Bertrand Bayou is authorize
    “ECHO CWA pull at Boyce point 31.387,-92.669 returned 6 permits (Boise Cascade, Boyce WWTP, Cleco Rodemacher/Brame LA0008036)”
    State agency · Oct. 2026 · grade B
  • Construction stage: under construction - both buildings (10-Q, period ended Aug. 31, 2026)
    “Our two buildings at our Delta Forge 1 campus, with an aggregate 300MW capacity, are currently under construction”
    SEC filing · Oct. 2026 · grade B
  • Buildings initial: 2 (150 MW critical IT each, built across four overlapping phases) buildings
    “The Delta Forge 1 campus will initially comprise two 150-MW facilities spanning more than 500 acres”
    Company · Oct. 2026 · grade B
  • Utility: Cleco Power LLC
    “Cleco will provide power to support Applied Digital's data center campus, helping meet the energy needs of a large-scale AI and high-performance computing operation”
    State agency · Oct. 2026 · grade B
  • Site identity: Delta Forge 1 - Boyce, Rapides Parish, Louisiana
    “for 300 megawatts ("MW") of critical IT load at Delta Forge 1, a new AI Factory campus in Boyce, Louisiana”
    SEC filing · July 2026 · grade B
  • Utility service: 430 MW
    “it has entered into a lease agreement with a new U.S. based high investment-grade hyperscaler at its 430 MW AI Factory campus, Delta Forge 1”
    SEC filing · April 2026 · grade B
  • IT capacity: 300 MW
    “This lease represents approximately $7.5 billion in total contracted value over an estimated 15-year lease term and covers 300 megawatts (MW) of critical IT load”
    SEC filing · April 2026 · grade B
  • generator interconnection request: active - generator interconnection request (ERAS expedited track)
    “"Cleco Power LLC"; "Rodemacher"”
    Dataset · Dec. 2025 · grade B
  • On-site generation: not stated
    “the two buildings under construction will each accommodate 96 diesel-fired emergency generators and will be supported with 32 diesel fuel storage tanks”
    News report · Oct. 2026 · grade C
  • Backup generation: 192 diesel-fired emergency generators (96 per building); 32 diesel fuel storage tanks
    “An application for an Initial Synthetic Minor Source Permit with the LDEQ reflects that the two buildings under construction will each accommodate 96 diesel-fired emergency generators”
    News report · Oct. 2026 · grade C
  • utility certification: expedited procedural schedule granted; ALJ recommendation bypassed
    “The Louisiana Public Service Commission unanimously approved Cleco's request Wednesday to move the case forward without requiring a final recommendation from an administrative law judge before commissioners act”
    News report · Oct. 2026 · grade C
  • Cleco projects incremental base-rate and rider revenues of more than $2 billion over the ESA's 15-year term, with all project-attributable costs borne by the data center customer (Cleco testimony and filings as reported
    “incremental base rate and rider revenues are projected to total greater than $2 billion over a 15-year term”
    News report · Oct. 2026 · grade C
  • Construction plans obtained by KALB show schematics for two to three additional future buildings beyond the initial two; the company states the campus can scale considerably in 2028 and beyond. No additional MW is contra
    “Construction plans acquired by KALB reflect drawn-up schematics for an additional two to three future buildings, as well as retention ponds and fuel storage for its campus”
    News report · Oct. 2026 · grade C
  • large load interconnection request: expedited procedural schedule approved under the Lightning Initiative - case proceeds without an ALJ recommendation before the Commission acts; merits decision still pending (evidentia
    “the Commission voted to approve Cleco's request for the PSC to direct relevant parties to adopt an expedited procedural schedule for a 430 MW hyperscale data center”
    News report · Sept. 2026 · grade C
  • Interconnection status: Cleco Power service (MISO South); the ESA and associated generation/transmission package are pending before the LPSC in Docket No. U-38035 (filed Jun 23, 2026; expedited schedule approved Sep 2026
    “The decision does not amount to final approval of Cleco's proposed natural gas generation, transmission infrastructure or contracts with Applied Digital.”
    News report · Sept. 2026 · grade C
  • generator interconnection request: certification of new generation requested (part of the same application; pending)
    “The firm proposes to generate 430 megawatts by 2028 at the station near Hineston, fueling it with power supplied by a proposed solar farm nearby.”
    News report · Aug. 2026 · grade C
  • large load interconnection request: application filed (Jun 23, 2026) - authorization of contracts incl. the site-specific ESA, certification of transmission interconnection and new generation, and waivers under the Light
    “authorize certain contracts, including a specific site contract, as well as certification of transmission interconnection, new generation, and associated waivers for a large load customer pursuant to the Commission's Lightning Initiative”
    News report · July 2026 · grade C
  • Interconnection status: MISO queue position located: Cleco Power ERAS request E0048, 775 MW new gas generation at Rodemacher (Brame Energy Center, Boyce), proposed in-service Sept. 19, 2028, filed as part of the generation p
    “Cleco plans to build a new natural gas power plant as part of a broader deal to supply electricity to Applied Digital's massive data center in Rapides Parish, according to testimony filed with state regulators”
    News report · Dec. 2025 · grade C
Money and contracts (46)
  • Tenants: Unnamed U.S.-based high investment-grade hyperscaler (single tenant under two leases, via APLD AEX-01 LLC and APLD AEX-02 LLC)
    “APLD AEX-01 LLC and APLD AEX-02 LLC, respectively, each a subsidiary of the Company, entered into separate data center leases with a second U.S.-based investment-grade hyperscaler”
    SEC filing · Oct. 2026 · grade A
  • Tenant status: executed - two leases signed April 20, 2026 and April 22, 2026
    “On April 20, 2026 and April 22, 2026, APLD AEX-01 LLC and APLD AEX-02 LLC, respectively, each a subsidiary of the Company, entered into separate data center leases”
    SEC filing · Oct. 2026 · grade A
  • Capital cost: 3600000000 USD
    “representing an investment of approximately $3.6 billion and an ultimate electric load of up to 430 MW”
    Utility regulator · Oct. 2026 · grade A
  • Lease contracted revenue: 7500000000 USD
    “This lease represents approximately $7.5 billion in total contracted value over an estimated 15-year lease term and covers 300 megawatts (MW) of critical IT load”
    SEC filing · Oct. 2026 · grade A
  • data center lease (Building 1): scope 150 MW
    “APLD AEX-01 LLC and APLD AEX-02 LLC, respectively, each a subsidiary of the Company, entered into separate data center leases with a second U.S.-based investment-grade hyperscaler”
    SEC filing · Oct. 2026 · grade A
  • data center lease (Building 2): scope 150 MW
    “On April 20, 2026 and April 22, 2026, APLD AEX-01 LLC and APLD AEX-02 LLC, respectively, each a subsidiary of the Company, entered into separate data center leases”
    SEC filing · Oct. 2026 · grade A
  • data center leases (Buildings 1-2, combined): term / contracted value 7500000000 USD (base term, both leases)
    “This lease represents approximately $7.5 billion in total contracted value over an estimated 15-year lease term and covers 300 megawatts (MW) of critical IT load”
    SEC filing · Oct. 2026 · grade A
  • data center leases (Buildings 1-2, combined): renewal three five-year renewal options
    “Each lease includes multiple five-year renewal options (three five-year options, except Polaris Forge 2, which includes two five-year options), which are not reflected in the amounts shown”
    SEC filing · Oct. 2026 · grade A
  • data center leases (Buildings 1-2, combined): termination for convenience requires payment of the full remaining contractual value
    “is structured on a take-or-pay basis, and is non-cancellable, such that a termination for convenience would require payment of the full remaining contractual value”
    SEC filing · Oct. 2026 · grade A
  • data center leases (Buildings 1-2, combined): take-or-pay structure take-or-pay
    “Each lease is a direct, long-term agreement with CoreWeave or an investment-grade hyperscaler, is structured on a take-or-pay basis”
    SEC filing · Oct. 2026 · grade A
  • electric service agreement (site-specific contract): scope 430 MW (ultimate load)
    “Cleco Power is requesting approval of a 15-year Electric Service Agreement and related agreements with the Customer as a Site Specific Contract”
    Utility regulator · Oct. 2026 · grade A
  • electric service agreement (site-specific contract): term 15 years
    “Construction on the Project broke ground in early 2026, with permanent service from Cleco Power expected to begin in mid-2027 and full ramp-up in 2028”
    Utility regulator · Oct. 2026 · grade A
  • electric service agreement (site-specific contract): interconnection cost (CIAC) customer pays 100% of direct transmission interconnection costs
    “the Customer will pay 100% of the direct transmission interconnection and bridge capacity costs”
    Utility regulator · Oct. 2026 · grade A
  • electric service agreement (site-specific contract): minimum bill robust minimum bill provision (percentage not disclosed in public testimony)
    “Those protections include Customer-funded Contribution in Aid of Construction payments for all transmission and substation-related interconnection infrastructure, dollar-for-dollar pass-through of the Capacity Agreement's capacity costs, a robust minimum bill provision, early-termination fees, substantial collateral requirements”
    Utility regulator · Oct. 2026 · grade A
  • electric service agreement (site-specific contract): termination early-termination fees (amounts not disclosed in public testimony)
    “early-termination fees, substantial collateral requirements, and an unconditional parent guarantee from a creditworthy hyperscaler who will be the tenant of the data center”
    Utility regulator · Oct. 2026 · grade A
  • electric service agreement (site-specific contract): collateral substantial collateral requirements (amounts not disclosed in public testimony)
    “early-termination fees, substantial collateral requirements, and an unconditional parent guarantee from a creditworthy hyperscaler who will be the tenant of the data center”
    Utility regulator · Oct. 2026 · grade A
  • electric service agreement (site-specific contract): guarantee unconditional parent guarantee from the hyperscaler tenant's parent backstopping the Customer's obligations
    “The primary Project tenant will be a subsidiary of a hyperscaler that is one of the most creditworthy companies in the world, and that is providing an unconditional parent guarantee”
    Utility regulator · Oct. 2026 · grade A
  • electric service agreement (site-specific contract): condition - regulatory approval LPSC authorization pending in Docket U-38035; expedited procedural schedule granted Sep 2026; merits decision needed by March 2027 per
    “Cleco Power filed its application with the Commission on June 23, 2026, and anticipates that it will be noticed in the Commission's next Official Bulletin on July 2, 2026”
    Utility regulator · Oct. 2026 · grade A
  • bridge capacity purchase agreement: scope 370 MW of Zonal Resource Credits
    “the Capacity Agreement provides Zonal Resource Credits representing 370 MW of capacity for a 10-year term”
    Utility regulator · Oct. 2026 · grade A
  • bridge capacity purchase agreement: term / source facility 10 years
    “The capacity is provided by the Tenaska Frontier Generating Station, a nominal 830 MW natural gas combined cycle generating facility located near Shiro, Grimes County, Texas”
    Utility regulator · Oct. 2026 · grade A
  • bridge capacity purchase agreement: cost allocation customer pays the entire cost of the Capacity Agreement
    “the Customer will pay the entire cost of the Capacity Agreement”
    Utility regulator · Oct. 2026 · grade A
  • PILOT cooperative endeavor agreement (term sheet): approval / authorization term sheet execution authorized by board resolution
    “approve resolution authorizing execution of a term sheet providing for a tax incentive in the form of a Payment in Lieu of Tax (PILOT) agreement between England Economic and Industrial Development District and Applied Digital Corporation”
    Local government · Oct. 2026 · grade A
  • Tenant lease: delivery
    “We anticipate reaching initial ready for service in the first half of calendar year 2027 and full capacity in early calendar 2028”
    SEC filing · Oct. 2026 · grade A
  • Tenant lease: delivery
    “We anticipate reaching initial ready for service in the first half of calendar year 2027 and full capacity in early calendar 2028”
    SEC filing · Oct. 2026 · grade A
  • Tenant lease: execution
    “On April 23, 2026, we entered into two approximately 15-year leases with a second U.S.-based investment-grade hyperscaler for an aggregate 300 MW of critical IT load at the campus”
    SEC filing · July 2026 · grade A
  • tenant lease: scope not named end customer identity
    “entered into separate data center leases with a second U.S.-based investment-grade hyperscaler to deliver a combined 300MW of critical IT load to support the hyperscaler's AI and HPC infrastructure at Delta Forge 1”
    SEC filing · July 2026 · grade A
  • tenant lease: contract value 7500000000 USD contracted revenue, approx., base term
    “Delta Forge 1 High investment-grade hyperscaler 300 MW 15 years ~$7.5B 1H27-1H28”
    SEC filing · July 2026 · grade A
  • Tenant status: signed
    “it has entered into a lease agreement with a new U.S. based high investment-grade hyperscaler at its 430 MW AI Factory campus, Delta Forge 1”
    SEC filing · April 2026 · grade A
  • Tenants: unnamed U.S.-based high investment-grade hyperscaler (identity not disclosed)
    “it has entered into a lease agreement with a new U.S. based high investment-grade hyperscaler at its 430 MW AI Factory campus, Delta Forge 1”
    SEC filing · April 2026 · grade A
  • Tenant lease: capacity 300 MW critical IT
    “This lease represents approximately $7.5 billion in total contracted value over an estimated 15-year lease term and covers 300 megawatts (MW) of critical IT load”
    SEC filing · April 2026 · grade A
  • Tenant lease: term 15 years
    “This lease represents approximately $7.5 billion in total contracted value over an estimated 15-year lease term and covers 300 megawatts (MW) of critical IT load”
    SEC filing · April 2026 · grade A
  • Tenant lease: contract value 7500000000 USD
    “This lease represents approximately $7.5 billion in total contracted value over an estimated 15-year lease term and covers 300 megawatts (MW) of critical IT load”
    SEC filing · April 2026 · grade A
  • City: Boyce
    “BOYCE, La. - Applied Digital Corporation announced plans to develop a $3.6 billion, state-of-the-art artificial intelligence (AI) factory campus in Rapides Parish”
    State agency · Oct. 2026 · grade B
  • Jurisdiction: Unincorporated Rapides Parish site inside England District Sub-District No. 4; PILOT authority sits with EEIDD (state-created district), electric-service approval with the LPSC; no parish zoning approval id
    “approve resolution authorizing execution of a term sheet providing for a tax incentive in the form of a Payment in Lieu of Tax (PILOT) agreement between England Economic and Industrial Development District and Applied Digital Corporation”
    Local government · Oct. 2026 · grade B
  • data center leases (Buildings 1-2, combined): finding - clauses not public executed leases not filed as SEC exhibits; no building-level termination, default-remedy or condition-precedent clauses beyond the portfolio-leve
    “Exhibit No. Description 99.1 Press Release dated April 23, 2026 99.2 Investor Presentation”
    SEC filing · Oct. 2026 · grade B
  • sales and use tax exemption (Act 730 of 2024; La. R.S. 47:305.73): qualification qualified for state and local sales and use tax exemption on qualifying purchases or leases of data center equipment
    “Applied Digital qualified for Louisiana's state and local sales and use tax exemption on qualifying purchases or leases of data center equipment, established in Act 730 of the 2024 Regular Legislative Session”
    State agency · Oct. 2026 · grade B
  • Location publicly revealed: LED announcement places Delta Forge 1 in Rapides Parish near Boyce - about four months after groundbreaking and a month after the tenant leases were signed.
    “BOYCE, La. - Applied Digital Corporation announced plans to develop a $3.6 billion, state-of-the-art artificial intelligence (AI) factory campus in Rapides Parish”
    State agency · Oct. 2026 · grade B
  • No Delta Forge 1 campus-level project financing is disclosed in the FY2026 10-K or the Q1 FY27 10-Q; construction is funded at corporate level (Series G preferred PEPA commitment raised to $2.0B on June 26, 2026; revolvi
    “we entered into the sixth amendment to the PEPA to increase the aggregate commitment amount under the PEPA for the issuance of shares of Series G Preferred Stock from $1,590,000,000 to $2,000,000,000”
    SEC filing · Oct. 2026 · grade B
  • Two ~15-year leases signed Apr 23, 2026 for the full 300 MW of critical IT capacity at Delta Forge 1 (~$7.5B contracted value) with a second U.S.-based high investment-grade hyperscaler
    “covers 300 megawatts (MW) of critical IT load, purpose-built to support the hyperscaler’s artificial intelligence (AI) and high-performance compute (HPC) infrastructure”
    SEC filing · April 2026 · grade B
  • PILOT cooperative endeavor agreement (term sheet): fee schedule Y1 $27.4M; Y2-5 $26.4M; Y6-9 $25.4M; Y10-13 $23.4M; Y14-17 $22.4M; Y18-21 $20.4M; Y22-25 $19.4M USD per year
    “Instead of paying standard taxes, Applied Digital will pay a fluctuating flat fee each year, decreasing over time”
    News report · Oct. 2026 · grade C
  • PILOT cooperative endeavor agreement (term sheet): additional payments 18000000 USD per year
    “the company must also pay $18,000,000 per year for three years to regional taxing bodies and community development”
    News report · Oct. 2026 · grade C
  • PILOT cooperative endeavor agreement (term sheet): jobs clause create and maintain 200 full-time jobs within five years, at wages at or above 150% of the statewide annual average wage
    “creating and maintaining two hundred full-time jobs by no later than five years with wages at or above 150% of the then statewide annual average wage”
    News report · Oct. 2026 · grade C
  • PILOT cooperative endeavor agreement (term sheet): finding - executed agreement not public term sheet approved Apr 23, 2026; executed CEA/PILOT paperwork still not completed as of Oct 2026 per local reporting
    “While all the paperwork hasn't yet been completed with the England Authority construction on the $3.6 billion data center is forging along”
    News report · Oct. 2026 · grade C
  • community benefit agreement: payment 4000000 USD
    “The Town of Boyce has secured a $4 million community benefit agreement with Applied Digital, the company developing the $3.6 billion Delta Forge 1 AI Factory Campus in Rapides Parish”
    News report · Oct. 2026 · grade C
  • community benefit agreement: purpose community improvements, infrastructure enhancements and economic development in Boyce
    “the agreement will provide funding for community improvements, infrastructure enhancements and economic development in Boyce”
    News report · Oct. 2026 · grade C
  • water service commitment: scope 1,200-4,800 gallons per day; 50 gpm limit
    “the total campus has received a commitment from the water utility for 1,200 to 4,800 gallons per day, with a limit of 50 gallons per minute”
    News report · Oct. 2026 · grade C
Permits and government (12)
  • England Economic and Industrial Development District (EEIDD) Board of Commissioners: Resolution authorizing execution of a PILOT term sheet with Applied Digital Corporation or an affiliate (R.S. Title 33 Ch.1 Pt.4 Subpar
    “Motion by Mr. Jamar Gailes, Second by Mr. Zeb Winstead to approve resolution authorizing execution of a term sheet providing for a tax incentive in the form of a Payment in Lieu of Tax (PILOT) agreement”
    Local government · Oct. 2026 · grade A
  • air permit: application filed
    “An application for an Initial Synthetic Minor Source Permit with the LDEQ reflects that the two buildings under construction will each accommodate 96 diesel-fired emergency generators”
    News report · Oct. 2026 · grade C
  • stormwater discharge (construction): coverage granted
    “Under the company's acquired water permit, LDEQ has granted the company access to discharge stormwater associated with construction into the neighboring Bertrand Bayou”
    News report · Oct. 2026 · grade C
  • enforcement citation: citation issued - Failure to Control Particulate Emissions
    “On May 27, LDEQ issued a citation to Applied Digital for Failure to Control Particulate Emissions, after inspectors, prompted by citizen complaints about dust, inspected Delta Forge One's construction site”
    News report · Oct. 2026 · grade C
  • Town hall in Boyce: residents voiced staunch skepticism - water, noise, NDAs signed by local officials, and permit transparency were the main friction points.
    “During a town hall on June 23, central Louisiana residents voiced staunch skepticism towards an incoming data center, dubbed Delta Forge One”
    News report · Oct. 2026 · grade C
  • Citizen dust complaints triggered the LDEQ inspection that produced the May 27, 2026 fugitive-dust citation (see permit events); the company changed its dust-control product and reported improvement.
    “It is true that LDEQ received a complaint about dust from our site”
    News report · Oct. 2026 · grade C
  • LPSC adopted the Lightning Initiative in December 2025 (4-1 vote), an expedited pathway for new power resources tied to large industrial loads that waives certain standard requirements where criteria such as a 15-year se
    “the Commission approved the Lightning Initiative. Requested by Governor Jeff Landry, the initiative aims to accelerate the timeline for major employers to secure the massive amounts of power they require”
    News report · Oct. 2026 · grade C
  • Louisiana Public Service Commission - Business & Executive Session: Cleco Power motion for procedural directive on the data center proceeding schedule, Docket U-38035 (Exhibit 14)
    “The Louisiana Public Service Commission unanimously approved Cleco's request Wednesday to move the case forward without requiring a final recommendation from an administrative law judge before commissioners act”
    News report · Oct. 2026 · grade C
  • Public town hall, Boyce (Applied Digital and community; not a governing-body meeting): Residents questioned the project on water, noise, NDAs and permits; Applied Digital EVP External Affairs Nick Phillips answered publi
    “During a town hall on June 23, central Louisiana residents voiced staunch skepticism towards an incoming data center, dubbed Delta Forge One, which is slated for completion in early 2027, south of Boyce”
    News report · Oct. 2026 · grade C
  • Initial Synthetic Minor Source Permit application (air): Application filed; not an issuance
    “An application for an "Initial Synthetic Minor Source Permit" with the LDEQ reflects that the two buildings under construction will "each accommodate 96 diesel-fired emergency generators"”
    News report · June 2026 · grade C
  • LPDES stormwater discharge authorization (construction): Granted
    “Under the company's acquired water permit, LDEQ has granted the company access to discharge stormwater associated with construction into the neighboring Bertrand Bayou”
    News report · June 2026 · grade C
  • Citation for failure to control particulate emissions: Issued May 27, 2026
    “On May 27, LDEQ issued a citation to Applied Digital for Failure to Control Particulate Emissions”
    News report · May 2026 · grade C
Site and other (16)
  • Developer: Applied Digital Corporation (NASDAQ: APLD)
    “We are a U.S.-based designer, developer, owner, and operator of large-scale, purpose-built data centers engineered to support high-performance computing (HPC) workloads”
    SEC filing · Oct. 2026 · grade A
  • County: Rapides Parish
    “The Project is a new hyperscale data center being developed in Rapides Parish, Louisiana, by the Customer”
    Utility regulator · Oct. 2026 · grade A
  • Construction stage: ground broken Jan. 22, 2026; site work under way
    “On January 22, 2026, we broke ground on Delta Forge 1”
    SEC filing · Oct. 2026 · grade A
  • Original target date: mid-2027 (initial operations)
    “Initial operations at Delta Forge 1 are anticipated to commence in mid-2027”
    SEC filing · Oct. 2026 · grade A
  • Current target date: delivery window 1H2027-1H2028 (10-K lease table); initial ready-for-service 1H2027, full capacity early 2028 (10-Q)
    “Initial operations at Delta Forge 1 are anticipated to commence during calendar year 2027”
    SEC filing · Oct. 2026 · grade A
  • Site acres: more than 500 acres
    “Delta Forge 1 is Applied Digital's newest AI Factory campus, spanning more than 500 acres”
    SEC filing · Oct. 2026 · grade A
  • Land ownership: Applied Digital owns the campus land
    “We own our Polaris Forge and Delta Forge data centers, including the land on which such data centers are located in North Dakota and Louisiana”
    SEC filing · Oct. 2026 · grade A
  • County code: 22079
    “FCC census block find for latitude 31.384830 longitude -92.689130 returned County FIPS 22079, name Rapides Parish”
    Dataset · Oct. 2026 · grade B
  • Stage: building on track
    “We anticipate reaching initial ready for service in the first half of calendar year 2027 and full capacity in early calendar 2028”
    SEC filing · Oct. 2026 · grade B
  • Initial footprint acres: 300 acres
    “Delta Forge 1, will initially include two facilities totaling 300 megawatts of critical IT load across approximately 300 acres with direct access to energy infrastructure”
    State agency · Oct. 2026 · grade B
  • Jobs commitment: 200 full-time on-site jobs at salaries 150% of the state average wage
    “The new campus will directly support 200 new full-time, on-site jobs with salaries 150% of the state average wage”
    State agency · Oct. 2026 · grade B
  • Site location: South of Boyce at James Road and La. 121, across I-49 from the Town of Boyce
    “a large-scale artificial intelligence data center located at James Road and La. 121 near Boyce”
    News report · Oct. 2026 · grade C
  • Site acres application: 672.52 acres
    “In Applied Digital's application to the EEIDD, the company allotted 672.52 acres of land for Delta Forge's campus, though only 300 acres are announced for the construction of two buildings”
    News report · Oct. 2026 · grade C
  • Water service: Rapides Island Water Association: operational commitment 1,200-4,800 gallons/day (50 gpm limit); initial closed-loop fill about 866,000 gallons per building
    “the total campus has received a commitment from the water utility for 1,200 to 4,800 gallons per day, with a limit of 50 gallons per minute”
    News report · Oct. 2026 · grade C
  • Applied Digital is staffing the Boyce site directly (Senior Project Manager - Construction; Data Center Critical Facilities Manager, Boyce, LA) - consistent with the under-construction status in the 10-Q
    “Senior Project Manager – Construction in Boyce, LA, US - Applied Digital Corporation”
    Company · Oct. 2026 · grade C
  • Save My Louisiana organized a protest against the data center in Boyce, citing NDAs, higher utility costs and environmental impact (Alexandria Town Talk, July 20, 2026).
    “Save My Louisiana organized a protest against the Applied Digital data center being built in the small Central Louisiana community of Boyce on Saturday, July 18”
    News report · Oct. 2026 · grade C

Imagery and records: Satellite imagery: Maxar via Esri World Imagery Wayback; Sentinel-2 (ESA Copernicus).