Kentucky Clears 482 MW AI Power Deal for TeraWulf’s Anthropic Campus
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Key Takeaways
- Kentucky regulators approved a 482 MW power agreement for TeraWulf's Justified Data Campus.
- The facility repurposes the former Century Aluminum Hawesville site and its existing transmission infrastructure.
- TeraWulf will bear all market, delivery, and infrastructure costs, shielding existing utility customers from risk.
- Total project investment is estimated between $4.0 billion and $4.5 billion for initial development.
TeraWulf (NASDAQ: WULF) won Kentucky regulatory approval for an electricity-supply agreement supporting as much as 482 megawatts at its Justified Data Campus, clearing a key hurdle for the company’s planned AI infrastructure project.
The Kentucky Public Service Commission’s Aug. 21 order authorizes Big Rivers Electric Corp. and Kenergy Corp. to implement the retail electric service agreement, TeraWulf said Monday. The commission concluded that the contract adequately protects existing utility customers and assigns project-related financial and operational risks to TeraWulf, according to the company announcement.
The approval puts a regulated power arrangement behind TeraWulf’s previously announced 20-year lease with Anthropic PBC. That contract covers about 401 MW of critical IT capacity and is expected to generate roughly $19 billion of revenue over its initial term. Delivery is scheduled to begin in late 2027 and reach full capacity in early 2028, according to TeraWulf's SEC filing on Monday.
The 482 MW figure represents total electric service available to the campus, while Anthropic’s 401 MW refers to the portion used directly by computing equipment. The balance would support cooling, power conversion and other data-center systems.
