Capital Front-Runs the Forecast: $2B Lands Before ERCOT Hits 367 GW

DataBank's $2 billion Red Oak construction loan, its largest ever, closed while ERCOT was still briefing Commission Staff on a fast-track interconnection process sized for a 367 GW peak by 2032. Capital is pricing the curve before the rules catch up, and developers who lock permits, water, and community terms now will own the window the 18-month pull-forward just opened.