From orbit
The site from above
1From orbit
The leased parcel
Satellite views of the same ground on Jan. 8, 2020 and Feb. 10, 2025. Drag to compare.
From orbit
The latest view
Latest clear view, Oct. 7, 2026. It comes from a lower-resolution satellite (10 m pixels), so buildings show as blocks of color, not detail.
Power
Power and the grid
None energized or contracted yet
On-site gas at the campus (71 GE Vernova units)Planned, unpermitted
gross, at the campus; none ordered; no air permit found Utility regulator · Oct. 2026
Gas at second site near Gavin (6 GE Vernova units)Planned, unpermitted
gross; linked by the new 765 kV line; not at the campus Utility regulator · Oct. 2026
Grid power from AEP Ohio (PJM, 765 kV)Study agreement signed
load studied at the campus; AEP expects power flow in 2029 Utility regulator · Oct. 2026
Japan-funded 9.2 GW gas buildFramework only
funding framework of $33.3B, not closed project debt; a SoftBank affiliate builds it State agency · Oct. 2026
Proposed
Getting on the grid
Who supplies what, what it costs, and what is still not public.
- March 20, 2026Campus announced on federal landSB Energy leases Department of Energy land and promises $4.2B for new transmission. State agency · Oct. 2026
- May 5, 2026765 kV line in pre-applicationAEP Ohio plans a roughly 50 mile line from a new Baku substation near Piketon to Gavin. News report · Oct. 2026
- Sept. 25, 2026Grid study agreement signedSB Energy affiliates sign with PJM and AEP Ohio and post a $500,000 deposit; they pay all study costs. Utility regulator · Oct. 2026
- Oct. 13, 2026Filed at FERCThe study covers about 9,570 MW of load and 10,171 MW of gross generation at two sites. see Permits
- 2029Earliest grid powerAEP Ohio's expectation for power flow; the company's own start date is 2028. Company · Oct. 2026
- Not setGas plant: no permit foundNo Ohio air permit or siting certificate is on file for the generation. see Permits
- Study deposits are not a cap: SB Energy pays every actual study cost, and either side can end the study on 30 days notice. Utility regulator · Oct. 2026
- The Ohio utility commission must sign or order cost sharing within 120 days of the study report, or the study ends. Utility regulator · Oct. 2026
- Press said ground was broken in March 2026, but no regulator confirms it; satellite shows only federal cleanup work. News report · Oct. 2026
Permits
Permits checklist
4 pending · 2 checked, nothing on file
- ◷Grid study agreement, filed at FERC PendingFERC and PJM · Sept. 25, 2026: signed; does not authorize construction Utility regulator · Oct. 2026
- ◷765 kV transmission line certificate PendingOhio Power Siting Board · May 5, 2026: pre-application; hearing Oct. 27, 2026
- ◷Stream and wetland fill certification PendingOhio EPA · Nov. 4, 2026: 15 streams, 6 wetlands; hearing Nov. 4, 2026 News report · Oct. 2026
- ◷Federal wetlands permit PendingArmy Corps of Engineers, Huntington · as of Oct. 2026: tied to the Ohio EPA application News report · Oct. 2026
- –Checked, nothing on file: Air permit and siting certificate for gas plant, FAA crane filings
Risks
What could slow it down
- HighOne tenant carries itThe filing says SB Energy is substantially dependent on OpenAI; it has no operating data centers and lost $3.2B in H1 2026. News report · Oct. 2026
- HighPower is not securedNo air permit or siting certificate for the gas plant; no turbines ordered; grid power not before 2029. News report · Oct. 2026
- Medium765 kV line fightEnvironmental groups are organising against the line ahead of the Oct. 27, 2026 hearing. News report · Oct. 2026
- MediumStream and wetland permitsFill into 15 streams and six wetlands needs Ohio EPA and federal approval. see Permits
- MediumStudy can endEither side can end the grid study on 30 days notice, and it lapses if Ohio's commission does not act in 120 days. Utility regulator · Oct. 2026
- WatchCleanup and land riskDOE cut an adjoining parcel after Ohio EPA scrutiny of contamination (press). News report · Oct. 2026
- WatchGuarantee covers halfNvidia backs about 4.25 GW of the 8 GW; a further 3.8 GW is only an option at Nvidia's discretion. News report · Oct. 2026
Money
Money on record
$105B
Nvidia guarantee cap on lease payments
pays only if OpenAI fails to pay; declines as it pays News report · Oct. 2026
$5.5B
value of warrants OpenAI holds in SB Energy
as of June 2026, plus $500M cash News report · Oct. 2026
$33.3B
Japanese funding framework for 9.2 GW gas
government framework, not closed debt State agency · Oct. 2026
Timeline
What happened, and what is due
SitePaper trailConstructionPowerPermitsMoneyLegalUpcoming
- Jan. 2026Money OpenAI is granted warrants in SB Energy News report · Oct. 2026
- March 20, 2026Site Campus announced; SB Energy leases federal land State agency · Oct. 2026
- May 5, 2026Permits 765 kV line case opens at the Ohio siting board News report · Oct. 2026
- July 2026Site Open house in Waverly draws 100+ residents; no organised opposition
- Aug. 17, 2026Money 17 leases signed with OpenAI; Nvidia guarantee and $1.5B investment SEC filing · Aug. 2026
- Sept. 1, 2026Money SB Energy files for a stock market listing News report · Oct. 2026
- Sept. 25, 2026Power Grid study agreement signed with PJM and AEP Ohio Utility regulator · Oct. 2026
- Sept. 28, 2026Site County open house draws 250 to 300 News report · Oct. 2026
- Oct. 13, 2026Power Study agreement filed at FERC Utility regulator · Oct. 2026
- Oct. 27, 2026Permits Hearing on the 765 kV line in Jackson, Ohio News report · Oct. 2026
- Nov. 4, 2026Permits Ohio EPA hearing on stream and wetland fill News report · Oct. 2026
- Nov. 12, 2026Permits Written comments due on the stream fill certification News report · Oct. 2026
- Dec. 23, 2026Permits Federal environmental review targeted to finish News report · Oct. 2026
- 2028Power Company's target start date News report · Oct. 2026
- 2029Power AEP Ohio's expected power flow Company · Oct. 2026
- 2030Money Last Nvidia guarantees take effect as leases begin News report · Oct. 2026
Construction activity
Satellite captures by quarter
Since Jan. 2020: 26 satellite captures. The chart starts in the first quarter of 2023; 1 earlier record is not drawn.
Satellite
’23
’24
’25
’26
Dot size: records in the quarter, largest = 3. Two-digit years mark each first quarter.
The buildings
Specs
20 years
initial lease term, plus four 5-year options
- Triple net: tenant pays costs; rent based on cost of the build
- Nvidia DSX: AI factory platform; Nvidia exclusive compute supplier in phase one News report · Oct. 2026
Who is involved
Owners, partners and builders
Owners
- SB Energy: developer, SoftBank company; SE DC DevCo, PORTS 2 Interconnect and Portsmouth Gas DevCo are its affiliates
- U.S. Department of Energy: owns and leases the land
Decision-makers
- Ohio Power Siting Board: certificate for the 765 kV line
- Pike County commissioners: host open houses
- Ohio EPA: stream and wetland certification
Power partners
- AEP Ohio Transmission: builds the 765 kV line
- PJM: runs the grid study
- GE Vernova: named for the 77 gas turbines (none ordered)
Customer
- OpenAI affiliate: tenant on 17 leases
- Nvidia: guarantor, investor and chip supplier
Opponents
- Ohio Environmental Council, Buckeye Environmental Network, Save Ohio Parks (line, not campus)
Still unknown
Open questions
- Whether and when gas turbines are ordered and permitted.
- Grid study results and cost sharing.
- Build start date for the first building.
- Second site near Gavin: who owns it.
Where this comes from
204 records from 37 documents
Drawn from news reports, public and commercial datasets, company statements, state agency records, satellite captures, securities filings and utility regulator dockets, each kept with its date and source. The bar shows documents by type.
News report 18Dataset 7Company 7State agency 6Satellite 2SEC filing 2Utility regulator 1
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 (38)
- Name: PORTS Technology Campus (PORTS-Pike)“The planned PORTS Technology Campus would include 9.2 gigawatts of new natural gas generation and a 10-gigawatt data center development on DOE land.”State agency · Oct. 2026 · grade A
- Stated campus size: 10,000 MW“A 10-gigawatt data center campus is planned for the site.”Company · Oct. 2026 · grade A
- On-site generation: 9,200 MW“SB Energy is planning to build 10 gigawatts (GW) of new power generation-including 9.2 GW of natural gas generation.”State agency · Oct. 2026 · grade A
- On-site power technology: natural gas generation (plus unspecified balance to 10 GW)“SB Energy is planning to build 10 gigawatts (GW) of new power generation-including 9.2 GW of natural gas generation.”State agency · Oct. 2026 · grade A
- Utility: AEP Ohio / AEP Ohio Transmission Company“The U.S. Department of Energy, SB Energy and AEP Ohio today announced planned multi-billion-dollar investments in advanced digital and energy infrastructure.”Company · Oct. 2026 · grade A
- Interconnection status: PJM State Agreement Approach (SAA) Study Agreement executed Sept. 25, 2026; filed at FERC as ER27-126-000 (Rate Schedule No. 54) on Oct. 13, 2026, requested effective date Sept. 25, 2026; integrated study of“the expansion being evaluated under the Study Agreement comprises approximately 9,570 MW of additional load and 10,170 MW of gross new generation”Utility regulator · Oct. 2026 · grade A
- Interconnection study agreement (State Agreement Approach): executed“PJM submits for filing an executed Study Agreement in Furtherance of the State of Ohio State Agreement Approach Request, designated as Rate Schedule No. 54”Utility regulator · Oct. 2026 · grade A
- Interconnection study agreement (State Agreement Approach): filed“PJM requests that the Commission accept the Study Agreement effective September 25, 2026”Utility regulator · Oct. 2026 · grade A
- On-site generation: 6542.69 MW“an integrated project to interconnect approximately 10.17 GW of gross new electric generation, to power approximately 10.37 GW of new data center load”Utility regulator · Oct. 2026 · grade A
- PJM SAA Schedule B (verified in the filing): of 10,171.54 MW gross Flagship generation, 3,628.85 MW (6 x GE Vernova 7HA.2) sits at a second Gavin customer location interconnecting on the new Baku-Gavin 765 kV line - not“Point of Interconnection: (new) Baku-Gavin 765 kV line”Utility regulator · Oct. 2026 · grade A
- IT capacity: 8,000 MW“17 data center buildings aggregating approximately 8.0 GW-IT of critical IT capacity”SEC filing · Aug. 2026 · grade A
- IT capacity: 4,250 MW“The guaranty covers the first 4.25 GW-IT of leases at the PORTS-Pike Technology Campus”SEC filing · Aug. 2026 · grade A
- On-site generation: 9,200 MW“The gross power load is expected to be supplied by the PJM power grid and further supplemented by an initial build-out of approximately 9.2 GW of gas-fired generation facilities”SEC filing · Aug. 2026 · grade A
- Neighboring gas generation: 9.2 GW (planned, SoftBank affiliate, not an SB Energy subsidiary)“the planned 9.2 GW gas-fired generation facilities neighboring the PORTS-Pike Technology Campus being developed by an affiliate of SoftBank that is not our subsidiary”SEC filing · Aug. 2026 · grade A
- County code: 39131“The Department of Energy is leasing federal land at the former Portsmouth Gaseous Diffusion Plant in Pike County, Ohio, to an SB Energy-affiliated entity for the construction of the data center campus”State agency · March 2026 · grade A
- Power lines of 230 kV or more within 2 km: 47Measured on OpenStreetMap map data.
- Don marquis substation: 'Don Marquis Substation' (AEP) tagged 765 kV at 1.65 kmMeasured on OpenStreetMap map data.
- Gas pipelines within 15 km: 0Measured on OpenStreetMap map data.
- Role of the on-site plant: bridge/prime hybrid: new generation backs the campus and connects to the grid“SB Energy, a SoftBank Group company, is planning to build 10GW of new power generation that will connect to the local grid.”Company · Oct. 2026 · grade B
- Power plan: hybrid (onsite gas generation + grid through AEP Ohio 765 kV transmission)“The Ohio initiative will feature both on-site and grid-connected power generation, alongside multi-billion-dollar investments in transmission enhancements.”Company · Oct. 2026 · grade B
- First power: 2029 (AEP Ohio expectation for transmission power flow)“AEP Ohio expects power to begin flowing to the site in 2029.”Company · Oct. 2026 · grade B
- SB Energy (Greenhouse) hiring in Piketon, OH: Project Manager, Gas & Fuel Supply - Power Generation“Project Manager, Gas & Fuel Supply - Power Generation”Company · Sept. 2026 · grade B
- SB Energy (Greenhouse) hiring in Piketon, OH: Project Manager, Integration - Power Generation“Project Manager, Integration - Power Generation”Company · Sept. 2026 · grade B
- SB Energy (Greenhouse) hiring in Piketon, OH: Project Manager, Site Development - Power Generation“Project Manager, Site Development - Power Generation”Company · Sept. 2026 · grade B
- SB Energy (Greenhouse) hiring in Piketon, OH: Project Manager - Power Generation“Project Manager - Power Generation, Piketon, OH”Company · July 2026 · grade B
- Aliases: PORTS-Pike Energy Center; SB Energy Piketon; Portsmouth Gaseous Diffusion Plant site“Under the agreement, SB Energy is planning to build 10GW of new power generation to provide power to a new 10GW data center development at the Portsmouth Site in Pike County, Ohio.”News report · Oct. 2026 · grade C
- IT capacity: 8,000 MW“OpenAI also signed 17 leases covering about eight gigawatts of computing capacity at SB Energy's planned Southern Ohio campus.”News report · Oct. 2026 · grade C
- Generator maker and model: GE Vernova (77 turbines)“Every one of the 77 turbines is a GE Vernova. Siemens is nowhere to be found.”News report · Oct. 2026 · grade C
- Grid operator: PJM“PJM Interconnection has submitted a new agreement to federal regulators establishing a specialized review process for the massive AI infrastructure expansion.”News report · Oct. 2026 · grade C
- Turbine status: none ordered (units named in the PJM study filing's turbine list; no equipment order announced)“Tucked inside are two new pieces of news: the project's gas plants get to skip PJM's notoriously clogged interconnection queue, and the full turbine list is out.”News report · Oct. 2026 · grade C
- Transmission certificate (Certificate of Environmental Compatibility and Public : pre-application“AEP Transmission expects to apply for a Certificate of Environmental Compatibility and Public Need to the Ohio Power Siting Board (OPSB) by mid-year 2026. The project has been assigned OPSB Case Docket Number 26-0426-EL-BTX.”News report · Oct. 2026 · grade C
- Transmission certificate: hearing scheduled“The Ohio Power Siting Board will hold a public hearing Tuesday, Oct. 27, on AEP Ohio Transmission Co.'s proposed Baku-Gavin transmission line, a roughly 51-mile, 765-kilovolt line.”News report · Oct. 2026 · grade C
- Press (The Information via DCD) claims ground was broken in March 2026; no regulator source confirms data-center construction; DOE remediation/demolition is ongoing and the Mar 2026 event was the announcement/groundbreak“The first phase - 800MW - is expected to start operations in 2028. Ground was broken on the project in March 2026, according to The Information.”News report · Oct. 2026 · grade C
- Several press summaries of the S-1 say SB Energy has ~800 MW of compute capacity 'under construction' company-wide while also describing the southern Ohio campus as in planning stage; the S-1 extraction (T5) states PORTS“The company says its contracted data-center backlog will exceed $400 billion. About 800 megawatts of capacity is under construction.”News report · Oct. 2026 · grade C
- Utility service: 800 MW“beyond an initial 800-megawatt phase already addressed through AEP Ohio's data center tariff”News report · Oct. 2026 · grade C
- On-site generation: 10,170 MW“The agreement covers approximately 9,570 megawatts of additional data center demand and approximately 10,170 megawatts of gross new generation”News report · Oct. 2026 · grade C
- Interconnection status: Interconnection study - initial 800 MW phase addressed through AEP Ohio's data center tariff; expansion (approximately 9,570 MW additional demand) under the PJM study agreement filed at FERC as ER“The filing is available through the Federal Energy Regulatory Commission under Docket No. ER27-126-000, filed Oct. 13, 2026.”News report · Oct. 2026 · grade C
- Generating units on the permit: 77 GE Vernova gas turbines per the turbine list in PJM's FERC-filed special study agreement (ER27-126-000)“the full turbine list is out. Every one of the 77 turbines is a GE Vernova.”News report · Oct. 2026 · grade C
Money and contracts (40)
- Community benefits: $80M committed ($40M SB Energy + $40M OpenAI, per the PJM ER27-126 filing itself); $6M childcare investment announced Oct 2026 (press); SB Energy also committed to fund accelerated site cleanup USD“SB Energy has also committed $40 million to community benefits, supplemented by an additional $40 million commitment from OpenAI (the data center tenant)”Utility regulator · Oct. 2026 · grade A
- Financing transmission: SB Energy committed to pay $4.2B for new 765 kV transmission (built by AEP Ohio) to protect Ohio ratepayers USD“SB Energy is committed to paying for the $4.2 billion in new transmission investments to help avoid increases to transmission rates for Ohio residents.”Company · Oct. 2026 · grade A
- Ground lease: SB Energy leasing federal DOE land at the Portsmouth Site; DOE makes remediated land available for reuse; SB Energy funding accelerated cleanup“SB Energy is leasing federal land at the site for this project, which helps fast-track development. The company also committed to helping fund EM's accelerated environmental cleanup.”State agency · Oct. 2026 · grade A
- DOE public-private partnership / federal land lease: land lease - SB Energy leasing federal land at Portsmouth Site; initial phase 189 acres; SB Energy funds accelerated cleanup“SB Energy is leasing federal land at the site for this project, which helps fast-track development. The company also committed to helping fund EM's accelerated environmental cleanup.”State agency · Oct. 2026 · grade A
- Transmission funding commitment: developer pays transmission cost 4200000000 USD“SB Energy is committed to paying for the $4.2 billion in new transmission investments to help avoid increases to transmission rates for Ohio residents.”Company · Oct. 2026 · grade A
- PJM State Agreement Approach study agreement: study deposit by SE DC DevCo 500000 USD“SE DC DevCo shall pay a $500,000 study deposit upon execution of this Study Agreement”Utility regulator · Oct. 2026 · grade A
- PJM State Agreement Approach study agreement: termination condition - PUCO must sign an SAA Agreement or issue a binding cost-allocation order within 120 days after PJM delivers the System Upgrade Report, or the Study Ag“absent an extension, the Study Agreement automatically terminates if PUCO takes neither action within that period”Utility regulator · Oct. 2026 · grade A
- Community benefits commitments: community fund $40M + $40M; $6M childcare announced Oct 2026 80000000 USD“SB Energy has also committed $40 million to community benefits, supplemented by an additional $40 million commitment from OpenAI (the data center tenant)”Utility regulator · Oct. 2026 · grade A
- US-Japan Strategic Trade and Investment Agreement framework: Japanese funding committed for 9.2 GW gas build (framework commitment, not closed project debt) 33300000000 USD“Portions of this announcement were previously announced as part of President Trump's U.S.-Japan Strategic Trade and Investment Agreement. This includes the $33.3 billion in Japanese funding for 9.2 GW of new natural gas generation.”State agency · Oct. 2026 · grade A
- PJM State Agreement Approach study agreement: study costs - SE DC DevCo bears ALL actual study costs; the deposits are not a cap“SE DC DevCo is responsible for all costs that PJM incurs in conducting the studies”Utility regulator · Oct. 2026 · grade A
- PJM State Agreement Approach study agreement: additional study deposit - payable on submission of new specifications for a Revised Study 500000 USD“An additional $500,000 study deposit is required upon submission of new specifications for a Revised Study”Utility regulator · Oct. 2026 · grade A
- PJM State Agreement Approach study agreement: termination - SE DC DevCo may unilaterally terminate on 30 days prior written notice (Article 23.b)“SE DC DevCo may unilaterally terminate this Study Agreement upon providing the Parties thirty (30) days prior written notice”Utility regulator · Oct. 2026 · grade A
- PJM State Agreement Approach study agreement: termination - PJM may unilaterally terminate on 30 days prior written notice (Article 23.c)“PJM may unilaterally terminate this Study Agreement upon providing the Parties thirty (30) days prior written notice”Utility regulator · Oct. 2026 · grade A
- PJM State Agreement Approach study agreement: automatic termination - SE DC DevCo or AEP Ohio withdraws from the SAA process, or the State of Ohio withdraws its SAA Request (Article 23)“This Study Agreement will automatically terminate in the case that either SE DC DevCo or AEP Ohio withdraws from the SAA Process”Utility regulator · Oct. 2026 · grade A
- PJM State Agreement Approach study agreement: scope - load at Artemis (9,570 MW, Baku 765 kV) and Mercury (800 MW, Monza 345 kV, studied separately under Attachment M-3); generation at TWO customer locations: Artemis (6,“The load and generation will be connected at three distinct Points of Interconnection”Utility regulator · Oct. 2026 · grade A
- Openai leases signed: 17 leases“17 of our subsidiaries, each as landlord, and an affiliate of OpenAI, as tenant, entered into individual lease agreements”SEC filing · Aug. 2026 · grade A
- Lease initial term: 20“Each lease has a 20-year initial term, structured as triple-net leases with yield-on-cost rent”SEC filing · Aug. 2026 · grade A
- Nvidia guaranty value: 105 USD billions aggregate“residual value guaranties of the OpenAI tenant's lease obligations at PORTS-Pike Technology Campus covering only the initial approximately 4.25 GW-IT at an aggregate guaranteed value of $105 billion”SEC filing · Aug. 2026 · grade A
- Ports stage per s1: contracted, not under construction stage“8.0 GW-IT of capacity contracted but not yet under construction, consisting of the 8.0 GW-IT PORTS-Pike Technology Campus”SEC filing · Aug. 2026 · grade A
- ground lease: phased lease of federal land (the DOE Lease)“In connection with the PORTS-Pike Technology Campus, our subsidiary has entered into a phased lease with the DOE at the DOE Portsmouth Site”SEC filing · Aug. 2026 · grade A
- SB Energy S-1/A (CIK 2133037): on Aug. 17, 2026, 17 subsidiaries signed 17 individual leases with an OpenAI affiliate for the PORTS-Pike Technology Campus (17 buildings, about 8.0 GW-IT); PORTS is all of SB Energy's contrac“On August 17, 2026, 17 of our subsidiaries, each as landlord, and an affiliate of OpenAI, as tenant, entered into individual lease agreements for the PORTS-Pike Technology Campus”SEC filing · Aug. 2026 · grade A
- Sponsor-segment (portfolio) scope, NOT campus scope: SB Energy reports approximately $430 billion of DC segment backlog (of approximately $439 billion total backlog) in its S-1/A“we have approximately $439 billion of backlog, comprising approximately $430 billion of DC segment backlog”SEC filing · Aug. 2026 · grade A
- Tenant leases (17): renewal options - four 5-year options 20 years additional“17 individual leases with an OpenAI affiliate (20-year initial term, four 5-year options, triple-net, yield-on-cost rent). [§3]”grade B
- Tenant leases (17): net structure - triple-net; rent basis - yield-on-cost“17 individual leases with an OpenAI affiliate (20-year initial term, four 5-year options, triple-net, yield-on-cost rent). [§3]”grade B
- Tenants: OpenAI (affiliate of OpenAI Group PBC)“The filing also formally identifies OpenAI as the data center tenant and documents previously announced community investment commitments.”News report · Oct. 2026 · grade C
- Tenant status: signed lease - 17 leases signed Aug. 17, 2026 by 17 SB Energy subsidiaries with an OpenAI affiliate“Notably, OpenAI also signed 17 leases covering about eight gigawatts of computing capacity at SB Energy's planned Southern Ohio campus.”News report · Oct. 2026 · grade C
- Acres site total: 3777 acres“The DOE is performing a $5.87 billion environmental remediation and demolition project at the 3,777-acre site.”News report · Oct. 2026 · grade C
- Financing nvidia guaranty: Nvidia residual-value guaranties on OpenAI leases: aggregate cap $105B, covering ~4.25 GW-IT; effective in phases at lease commencement (2028-2030); exposure declines as OpenAI pays; option for“The guarantee will become effective in phases as data centers are placed in service between 2028 and 2030. As OpenAI makes lease payments and capacity comes online, Nvidia's remaining exposure declines.”News report · Oct. 2026 · grade C
- Financing gas: $33.3B of Japanese funding committed for 9.2 GW gas generation under the Feb 2026 US-Japan Strategic Trade and Investment Agreement (government framework, not closed project debt); gas generation to be own“The $33.3 billion in Japanese funding for 9.2GW of new natural gas generation was previously announced as part of President Donald Trump's US-Japan Strategic Trade and Investment Agreement in February.”News report · Oct. 2026 · grade C
- Financing equity: Nvidia $1.5B equity investment in SB Energy (announced Aug. 17, 2026); OpenAI $500M cash + 3,991,809 warrants at $0.01 (~$5.5B value Jun 2026); SB Energy S-1 filed Sep 1 2026 (Nasdaq SBE), targeting $5-7B“OpenAI holds approximately 4 million warrants. It invested $500 million in SB Energy earlier this year. Nvidia is investing $1.5 billion.”News report · Oct. 2026 · grade C
- Tenant leases (17): execution - 17 leases signed 17 leases“OpenAI also signed 17 leases covering about eight gigawatts of computing capacity at SB Energy's planned Southern Ohio campus.”News report · Oct. 2026 · grade C
- Tenant leases (17): term - initial 20 years“Nvidia is supporting the LPS infrastructure at Ports-Pike for approximately 4GW over a 20-year term.”News report · Oct. 2026 · grade C
- Tenant inducement warrants: warrants issued to tenant: 3991809 shares at $0.01 exercise; valued $3.6B Jan 2026 rising to ~$5.5B Jun 2026; OpenAI also invested $500M cash and holds board designation right while stake >5%“The warrants were initially valued at about $3.6 billion when they were granted in January. However, the estimated value increased to roughly $5.5 billion by the end of June.”News report · Oct. 2026 · grade C
- Nvidia residual-value guaranties: aggregate cap 105000000000 USD“Nvidia will also invest $1.5bn in SB Energy. The SoftBank subsidiary is set to build 10GW of new power generation, including 9.2GW of natural gas generation, to power the facility.”News report · Oct. 2026 · grade C
- Nvidia residual-value guaranties: scope - first 4.25 GW-IT; option at Nvidia sole discretion for ~3.8 GW-IT more 4,250 MW-IT“Nvidia entered multiple residual value guaranties with SB Energy covering approximately 4.25 gigawatts of IT load at the Portsmouth Site, with each agreement becoming effective upon commencement of the applicable lease.”News report · Oct. 2026 · grade C
- Nvidia residual-value guaranties: phase-in and decline - effective at each lease commencement (expected 2028-2030, first in Nvidia FY2029); exposure declines as OpenAI pays; terminates at 20th anniversary of each lease,“The guarantee will become effective in phases as data centers are placed in service between 2028 and 2030. As OpenAI makes lease payments and capacity comes online, Nvidia's remaining exposure declines.”News report · Oct. 2026 · grade C
- SB Energy publicly filed S-1 for Nasdaq listing (ticker SBE) on Sep 1 2026; bankers targeting $5-7B proceeds; filing states SB Energy is 'substantially dependent' on OpenAI; H1 2026 net loss $3.2B on ~$139M revenue; zero“SoftBank's data center arm filed for a Nasdaq listing on September 1, 2026. SB Energy is 'substantially dependent' on OpenAI, according to the filing.”News report · Oct. 2026 · grade C
- OpenAI and SB Energy announced $6M local childcare investment (part of $80M community benefits) at southeastern Ohio outreach meetings; OpenAI's Chris Lehane met local officials and residents“On Monday, OpenAI and SoftBank subsidiary SB Energy announced a $6 million investment in local childcare as part of a community benefits program.”News report · Oct. 2026 · grade C
- DOE reduced Parcel 4 at the Piketon site from >200 acres to 78 acres after Ohio EPA scrutiny and investigative reporting on contamination/sampling - land-control and cleanup-risk context for parcels adjoining the campus“The DOE has significantly reduced the size of Parcel 4 at the former Portsmouth Gaseous Diffusion Plant in Piketon, from over 200 acres to just 78 acres.”News report · Oct. 2026 · grade C
- Identity NOT established - no record found ties the LLC to SB Energy or SoftBank; reported holders of the PORTS private parcels are Woodburn Heights LLC, Green Eyes LLC and Roe Farms LLC (SB Energy holding purchase optio“WOUB reported that most of the private parcels are owned by Woodburn Heights LLC, Green Eyes LLC, and Roe Farms LLC, and that SB Energy held purchase options”News report · Aug. 2026 · grade C
Permits and government (13)
- Clean Water Act Section 404 individual permit: application submitted; NEPA review via USACE IP and associated Biological Opinion process“An application to the USACE was submitted on 05/27/2026”State agency · May 2026 · grade A
- 5 NM circle @ 39.0088,-82.9992 returned exactly 1 case, 2026-AGL-391-OE (335 ft antenna tower 'Gold Dust', 38.96351111,-83.01443889), unrelated to the campus; no data-center FAA case exists. Near-empty live result CONFIR“2026-AGL-391-OE | OH00010540 Gold Dust | 335 ft | submitted 02/09/2026”FAA · Feb. 2026 · grade A
- Wetlands permit application: filed“Ohio EPA wetlands application filed May 28, 2026 is the only state record found. [§1]”grade B
- Air permit (PTI) / generation siting certificate: none found“No air permit on file as of an Aterio analysis (~4 months after groundbreaking). Expected: nothing until turbines are designed. [§5]”grade B
- SB Energy (community open house): Open house at Waverly YMCA; >100 residents attended; no signs of an organised opposition campaign (Inside Climate News, Jul 31 2026)“PORTS Y (none organised). SB Energy held an open house at the Waverly YMCA; more than 100 residents came. [§A6]”grade B
- Opposition: As of Jul 2026: none organised (Waverly YMCA open house, >100 residents). By Oct 2026: organised environmental-group opposition to the Baku-Gavin 765 kV line (Ohio Environmental Council, Buckeye Environmental“Environmental groups opposed to the project are holding two information sessions ahead of the hearing.”News report · Oct. 2026 · grade C
- Clean Water Act Section 401 water quality certification: application under review (hearing scheduled Nov. 4, 2026)“The agency says the project would discharge fill material into 15 streams and six wetlands in the Lower Scioto watershed. The applicant is Portsmouth DevCo LLC.”News report · Oct. 2026 · grade C
- Section 404 wetlands permit (federal): application pending (linked to Ohio EPA 401 cert)“The state review carries Ohio EPA ID 262779A2 and is connected to U.S. Army Corps of Engineers Huntington District File LRH-2026-00354-SCR.”News report · Oct. 2026 · grade C
- Ohio Environmental Council, Buckeye Environmental Network and Save Ohio Parks holding information sessions (Oct 20 virtual; Oct 27 in Jackson) opposing/ahead of the OPSB Baku-Gavin hearing - first organised opposition ac“Environmental groups opposed to the project are holding two information sessions ahead of the hearing.”News report · Oct. 2026 · grade C
- Pike County Board of Commissioners (community open house): PORTS-Pike open house at Pike County Fairgrounds Multipurpose Building, Piketon; ~250-300 attendees; commissioners launched a county PORTS information hub (pikec“An estimated 250 to 300 people attended the two-hour community open house hosted by the Pike County Board of Commissioners.”News report · Oct. 2026 · grade C
- Ohio Power Siting Board: Local public hearing on Baku-Gavin 765 kV line (Case 26-0426-EL-BTX), Jackson Middle School Auditorium, 6 p.m.; environmental groups holding opposing info sessions Oct 20 (virtual) and Oct 27 (Ja“The Ohio Power Siting Board will hold a public hearing Tuesday, Oct. 27, on AEP Ohio Transmission Co.'s proposed Baku-Gavin transmission line.”News report · Oct. 2026 · grade C
- Ohio EPA: Public information session and antidegradation hearing on Section 401 certification application 262779A2 (Portsmouth DevCo LLC), YMCA, 400 Pride Drive, Waverly, 6 p.m.; written comments due Nov 12 2026“Written comments are due by the end of the business day on Thursday, November 12.”News report · Oct. 2026 · grade C
- : certificate application by AEP Ohio Transmission Company for the Baku-Gavin 765-kV transmission line serving the campus; local public hearing Oct 27, 2026 in Jackson, OH; OPSB approval required before construction“The Baku Substation and the Baku-Gavin line are named in PJM Interconnection's filing with federal regulators (FERC docket ER27-126-000) covering the campus”News report · Oct. 2026 · grade C
Site and other (13)
- X530a switchyard: 'X-530A Switchyard' tagged 345 kV, 0.86 km from energy-center centroidMeasured on OpenStreetMap map data.
- Lines within 2 km: 345 kV lines from 1.04 km; 765 kV 'Hanging Rock - Don Marquis' (AEP) from 1.32 kmMeasured on OpenStreetMap map data.
- Developer: SB Energy (SoftBank Group company)“DOE today announced a unique public-private partnership with SoftBank and AEP Ohio to redevelop DOE land ... in Southern Ohio.”State agency · Oct. 2026 · grade A
- Acres: 3777 (site total); 189 (initial phase on DOE land) acres“Development of the AI data center is expected to begin this year with an initial phase on 189 acres on the Portsmouth Site.”State agency · Oct. 2026 · grade A
- Ports buildings: 17 buildings“designed to comprise 17 data center buildings aggregating approximately 8.0 GW-IT of critical IT capacity”SEC filing · Aug. 2026 · grade A
- Buildings: 17 buildings“PORTS Technology Campus: 17 data center buildings; on 2026-08-17, 17 subsidiaries signed 17 leases with an OpenAI affiliate. [§3 (extraction of SB Energy S-1/A; EDGAR direct fetch blocked HTTP 403 in this run)]”grade B
- Announced: March 20, 2026“The U.S. Department of Energy (DOE), alongside the U.S. Department of Commerce (DOC), today announced a unique public-private partnership with SoftBank and AEP Ohio.”State agency · Oct. 2026 · grade B
- Construction stage: none (no data-center construction as of Sentinel-2 Oct. 5, 2026; DOE remediation/demolition ongoing)“Sentinel-2 shows NO data-center construction as of the 2026-10-05 scene”grade B
- SB Energy (Greenhouse) hiring in Piketon, OH: Development Project Manager - Data Center“Development Project Manager - Data Center”Company · Oct. 2026 · grade B
- SB Energy (Greenhouse) hiring in Piketon, OH: Project Engineer - Data Center“Project Engineer - Data Center”Company · July 2026 · grade B
- Initial phase acreage: 189 acres“Development of the AI data center is expected to begin this year with an initial phase on 189 acres on the Portsmouth Site”State agency · March 2026 · grade B
- Current target date: 2028“The guarantee will become effective in phases as data centers are placed in service between 2028 and 2030.”News report · Oct. 2026 · grade C
- Chips: Nvidia DSX AI factory platform; Nvidia exclusive AI compute provider for first phase“Huang said Nvidia is supporting the LPS infrastructure at Ports-Pike for approximately 4GW over a 20-year term, securing a site on which Nvidia compute will be exclusively deployed.”News report · Oct. 2026 · grade C
Imagery and records: Satellite imagery: Maxar via Esri World Imagery Wayback; Sentinel-2 (ESA Copernicus).