This means that developers, equity investors, lenders, tenants and contractors have more opportunities than capacity, creating a race to find the “best” deals. At the same time, tenants and contractors have significant influence over which projects to push forward. Today, the key factor in most projects is two-fold: (1) where the power is coming from and when, and (2) who is the tenant and status of the lease. This reality is reshaping the way data center projects are contracted, financed, and delivered.

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