Florida-headquartered ONE Nuclear Energy said the company has executed a binding letter of intent (LOI) that would provide site control for development of Project Cayman, a 2.88-GW gas-fired power plant and 700-MW/2.88 GWh battery energy storage system (BESS) sited alongside a data center complex.
The LOI was signed with what One Nuclear in an August 31 news release called a “prominent Louisiana landowner group.” The company said the strategy aligns with Louisiana utility Entergy’s continuing buildout of regional electricity transmission infrastructure.
“Project Cayman, with its 2.88-GW power capacity, demonstrates that One Nuclear is committed to supporting the future economic development of one of Louisiana’s most important industrial regions,” said Richard Taylor, CEO of One Nuclear. “The project will deliver the reliable energy needed to support new investment, create jobs, expand the local tax base and generate additional funding for community priorities and critical infrastructure.”
Industrial Site
Project Cayman is located near the RiverPlex MegaPark, a 17,000-acre heavy industrial site on the west bank of the Mississippi River in Ascension Parish, Louisiana. The location is northeast of SpaceX’s recently announced $100-billion project to build its largest launch facility yet, called Starbase, Louisiana, in coastal Vermilion Parish. Project Cayman, along with serving data centers, is expected to support regional economic development for other industrial projects.
One Nuclear said it will hold a series of public information meetings with local parishes, governmental agencies, and other project stakeholders from now through the end of the year.
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“ONE Nuclear is proud to invest in the region to support the rapidly growing energy needs created by other recently announced developments such as the SpaceX Starbase project and Hyundai’s $5.8-billion steel mill,” said Taylor. The company did not disclose details about the data center development, including the companies involved.
Gas Plants and SMRs
One Nuclear supports advanced small modular nuclear reactor (SMR) technology along with utility-scale gas-fired power plants. It currently has projects in Washington state, Texas, and New Mexico. The company has said its strategy is to build natural gas-fired generation to serve industrial sites that could later transition to the use of nuclear power through SMRs.
Louisiana officials, unlike those in some other states, have signaled their support for data centers. Several major projects are underway or planned. Tech giant Meta is developing a 5-GW campus in Richland Parish. Amazon Web Services earlier this year said the company plans to invest $12 billion to build data center campuses in northwest Louisiana.
Meta last year signed power purchase agreements with Treaty Oak Clean Energy for solar power in Louisiana. Entergy Louisiana in 2024 said it would build gigawatts of new natural gas-fired power generation to support Meta’s operations in the state.
One Nuclear last month announced a business combination with Hennessy Capital Investment Corp. VII, a deal approved by the Hennessy VII shareholders. The transaction is expected to close by year-end.
—Darrell Proctor is a senior editor for POWER.
