The total planned capacity of data centers in the United States has reached 245GW! The shift from "lack of electricity" to "power generation" is clustering in Texas to compete for natural gas

Driven by the artificial intelligence boom, U.S. data centers are expanding at an unprecedented scale, and their thirst for electricity is reshaping the energy landscape, with developers shifting their strategies from "connecting to the grid" to "building their own energy sources."

According to the latest data from consulting firm Wood Mackenzie, as of mid-October, the total planned capacity of U.S. data centers has surged to 245 gigawatts (GW), with an increase of 45 GW in just the third quarter.

Texas has become the focal point of this round of investment, accounting for more than a quarter of the planned capacity nationwide, primarily focusing on acquiring natural gas resources from the Permian Basin. As of the third quarter, the planned capacity of data centers in Texas has reached 67 GW.

At the core of this trend is a fundamental shift in developer strategies. The report indicates that due to a growing lack of confidence in utility companies' ability to meet their massive electricity demands and urgent timelines, data center developers are actively turning to building their own power generation facilities, particularly natural gas power.

This shift has the most direct impact on geographic concentration in the market. Texas, with its abundant natural gas resources, especially the advantages of the Permian Basin, has become the center of this competition.

Strategic Shift: From "Connecting to the Grid" to "Building Power Plants"

Traditionally, the primary factor in data center site selection was proximity to fiber optic networks and end users, but now, ensuring power supply has become the overriding core concern.

According to Wood Mackenzie analysis, developers are planning gigawatt-level data center parks in areas such as West Texas, Pennsylvania, and Wyoming, with the core strategy being to utilize local natural gas resources to build power plants.

For example, companies like Pacifico Energy, poolside, and FO Permian are planning large projects in Texas. This strategy aims to bypass the overloaded natural gas pipeline network and the high costs and long waits associated with new pipeline construction.

Although some projects utilize solar or wind energy, natural gas turbines have become the mainstream technology for newly built on-site power generation facilities. Data shows that while projects with on-site power generation only account for 10% of the total number of projects, their capacity accounts for 34% of the planned total capacity, with the vast majority located in Texas.

This trend could have a ripple effect on the energy market. The report warns that large-scale construction of natural gas power plants will increase natural gas consumption, competing with liquefied natural gas (LNG) exports, potentially driving up long-term natural gas prices in the U.S. and ultimately affecting electricity and gas bills nationwide.

At the same time, if these projects operate independently of the grid, it will exacerbate the supply tightness of power turbines, posing reliability challenges for other industries that rely on the grid, including electrification transformation.

Giant Projects Distorting Capital Landscape

The new development strategies are also distorting the capital markets. The report notes that giant projects costing over $17 billion (accounting for 2% of the total number of projects) attract as much as 42% of capital deployment.

Among them, projects like Project Jupiter in New Mexico ($160 billion) and Project Kestrel in Missouri ($100 billion) are obtaining tax incentives through innovative financial instruments such as Industrial Revenue Bonds (IRBs), with investment scales far exceeding those of traditional tech giants