Key takeaways
- One Nuclear has a binding Letter of Intent to build a 2.88 GW natural‑gas power plant and a 700 MW/2.88 GWh battery energy storage system (BESS) alongside a new data‑center campus in southern Louisiana.
- The project, named Project Cayman, will be sited adjacent to the RiverPlex MegaPark industrial complex in Ascension Parish.
- Community‑information sessions are slated for September – December 2026.
- The company’s stated model couples near‑term gas generation with a later transition to small modular reactors (SMRs).
- No public details have been provided on the data‑center’s megawatt capacity, construction timetable, financing structure, or anchor tenants.
Project overview
On 1 September 2026 One Nuclear announced that it had executed a binding Letter of Intent (LOI) with a group of Louisiana landowners. The LOI grants the firm site control for Project Cayman, which combines three core assets:
- A 2.88 GW natural‑gas‑fired generation unit.
- A battery storage system rated at 700 MW delivering 2.88 GWh (four‑hour duration).
- A high‑capacity data‑center campus that will share the same site.
The announcement did not include any specifics about the data‑center’s power draw or square‑footage, nor did it outline a construction schedule, financing package, or confirmed tenants.
“Project Cayman, with its 2.88GW power capacity, demonstrates that One Nuclear is committed to supporting the future economic development of one of Louisiana’s most important industrial regions,” said CEO Richard Taylor.
“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.”
Power‑generation and storage specs
| Metric | Value |
|---|---|
| Natural‑gas generation capacity | 2.88 GW |
| Battery power rating | 700 MW |
| Battery energy capacity | 2.88 GWh |
| Storage duration at full output | 4 hours |
These figures come directly from the publicly released project parameters.
Site location and regional context
Project Cayman will be built next to the RiverPlex MegaPark, a 17,000‑acre heavy‑industrial site on the Mississippi River’s west bank in Ascension Parish. The MegaPark sits roughly between Baton Rouge and New Orleans.
Community outreach schedule
The company says it has begun engaging the community, with a series of meetings for local parish officials, government agencies, and other stakeholders planned between September and December 2026. These sessions are intended to share project details and coordinate with regional transmission planners.
Business model and next steps
The company describes its approach as building utility‑scale natural‑gas generation to anchor a site, then later swapping in advanced small modular reactors (SMRs) once those technologies reach commercial status. One Nuclear does not develop SMRs itself; instead it supplies the site infrastructure and sources reactors from third‑party developers.
Shareholders of Hennessy Capital Investment Corp. VII approved a business combination with One Nuclear on 24 August 2026, positioning the combined entity for a future public‑market listing.
What remains undisclosed
- Data‑center capacity – neither megawatt rating nor floor‑space numbers have been released.
- Construction timeline – no groundbreaking or commercial‑operation dates are provided.
- Financing details – the announcement does not break out equity, debt, tax‑credit or other funding sources.
- Power‑purchase arrangements – it is unclear whether utilities or data‑center operators will sign long‑term contracts.
- Anchor tenants – no companies have been named as prospective users of the campus.
These gaps are typical for early‑stage, land‑control announcements and will be filled as the project moves toward engineering design and financing.
Conclusion
Project Cayman adds a sizable 2.88 GW of dispatchable gas generation plus a 700 MW battery system to a region that is actively courting AI‑scale compute loads. The binding LOI secures the land package, but many operational and financial details remain private. Investors and engineers should monitor follow‑on releases for construction contracts, financing structures and tenant commitments that will determine how quickly the site can deliver power to Louisiana’s burgeoning data‑center ecosystem.
Sources
This article was researched and fact-checked against the following sources:
- One Nuclear inks binding LOI to develop 2.88GW gas plant and BESS to power data center in Louisiana - DCD (datacenterdynamics.com)
- One Nuclear Signs Deal for 2.88-GW Gas-Fired Plant, Large BESS for Louisiana Data Center Campus (powermag.com)
- ONE Nuclear secures Louisiana site for 2.88GW Project Cayman in US (finance.yahoo.com)
- One Nuclear Signs Binding LOI For 2.88GW Gas Plant And BESS To Power Louisiana Data Center (baxtel.com)
- ONE Nuclear Secures Site Control for 2.88 GW Louisiana Data Center - Converge Digest (convergedigest.com)