PROJECTS

3 GW+ active pipeline.
Two flagship Alberta projects.

Teton Digital's active pipeline exceeds 3 GW of power generation capacity and Tier-compatible data center capacity, anchored by two flagship Alberta projects — the fully permitted 466 MW Black Bear and the 200 MW Northern Forge — with additional U.S. pipeline in North Dakota, Iowa, and Texas. Energization targets span 2026, 2027, and 2028.

Pipeline overview

Full portfolio.

Project	Location	Scale	Stage / Status	Power Cost
Black Bear Flagship · Alberta	Alberta, Canada	466 MW NGCC + ~2,500-acre campus, ~3 GW pathway	Fully permitted; AESO Cluster 3 filed; Q3 2028 target	~$24/MWh
Northern Forge Flagship · Alberta	Alberta, Canada	200 MW gas-to-compute, behind-the-meter; 100-acre site	All major permits in hand; 10-yr firm gas LOI; Phase I 30 MW Q1 2027	<$30/MWh
North Dakota	North Dakota, USA	100 MW Tier 3 campus	Phase II Conditional Use Permit secured; covered in DCD	~$41/MWh
Iowa	Iowa, USA	50+ MW BTM solar + gas hybrid	LOI complete; due diligence ongoing	~$40/MWh (10-yr fixed)
Texas	Texas, USA	256 MW behind-the-meter	Strategic partnership; ERCOT interconnect approved	~$35/MWh (15-yr fixed)

Power cost figures reflect cash cost of power on the delivery basis stated for each project. Black Bear and Northern Forge figures are Year-1 (for Black Bear) and Phase I (for Northern Forge), each on a behind-the-meter delivery basis. Source: project financial models. Forward-looking; actual results may differ.

Flagships

Alberta carries the narrative.

Each flagship has its own campus page with full specs, status detail, and regulatory milestones. Confidential project materials available to qualified capital partners under executed NDA.

Black Bear

Alberta, Canada

View Black Bear →

Scale

466 MW NGCC + ~2,500-acre Tier-compatible campus, ~3 GW pathway.

Energization

Q3 2028 · ~24 months from Final Investment Decision

Status

Fully permitted federally, provincially, and at the Indigenous level. AESO Cluster 3 filed April 2026.

Power cost

~$24/MWh Year-1 cash cost, behind-the-meter

Northern Forge

Alberta, Canada

View Northern Forge →

Scale

200 MW behind-the-meter gas-to-compute, 100-acre site.

Energization

Phase I (30 MW) Q1 2027

Status

All major permits in hand. 10-yr firm gas supply under LOI. Pipeline LOI sized for the full 200 MW build.

Power cost

<$30/MWh starting in Phase I

U.S. pipeline

Additional development.

Mentioned for portfolio breadth, not positioned as flagship. Each U.S. project meets the same structural-cost-edge standard required of any Teton site.

North Dakota

100 MW Tier 3 campus

Phase II Conditional Use Permit secured (70 MW); Phase I in final permitting (30 MW). Basin Electric grid mix with backup generation. Coverage in Data Center Dynamics →

Iowa

50+ MW behind-the-meter solar & gas hybrid

10-year fixed-price PPA at ~$40/MWh with two five-year extension options. LOI executed; due diligence ongoing.

Texas

256 MW behind-the-meter partnership

15-year fixed-price arrangement at ~$35/MWh. Suitable for AI/HPC and Tier 3 workloads.

Development partnerships

Multi-fuel optionality

150 MW LOI with a modular nuclear reactor developer for long-term baseload optionality. 100+ MW LOI with a wind power producer for North/South Dakota deployments.