The problem. A data center business plan rests on a commissioning date and a ramp-up. Both depend on the grid connection, transformers and permits, which sit outside the financial model. A plan that looks right on paper can be two years off because of a misread PTF or a transformer ordered too late.

WHAT WE CHECK

Review points Cost per MW against published benchmarks: Cushman & Wakefield puts a modern greenfield data center at about $17.6m per MW excluding IT equipment
The commissioning date assumed, against the connection document actually held and high-voltage equipment lead times
Ramp-up: requested capacity, justified capacity, steps set in the connection agreement
Cost of delay: effect of a 6, 12 or 24-month slip on revenues and cash
The energy and operating assumptions that weigh most on margin

On a 1 GW AI campus, estimated at about $30bn, electrical infrastructure is about $3bn, a tenth of the cost, yet it sets the date of first revenues (estimates by Cushman & Wakefield and Bloomberg Intelligence, reported by DCmag on 30 October 2026).

WHAT YOU RECEIVE

A review memo listing robust assumptions, fragile assumptions and their quantified effect, with a timeline sensitivity table. It supports an investment decision, a negotiation or a credit committee.

WHO IS INVOLVED

The review is led by Frédéric Arnaud, founder of GridReadiness, former financial auditor at PricewaterhouseCoopers and former consultant, with a high-voltage engineer from our network for the connection and equipment timeline. See also lender due diligence and power claim verification.

This review is a technical and economic analysis. It is neither investment advice nor a regulated valuation. Our commitment is a best-efforts obligation.

FREQUENTLY ASKED QUESTIONS

Do you build the business plan?

No. We review an existing plan and test it against the real connection and equipment timeline. Building the model remains with the project team or its financial adviser.

What does a data center cost per MW?

Cushman & Wakefield puts a modern greenfield data center at about $17.6m per MW excluding IT equipment. For an equipped AI campus, published estimates approach $30m per MW. Each project must be reviewed on its own quotes.