NextNRG Inc. signed a non-binding term sheet to acquire a 33-acre property in South Bend, Indiana. The proposed purchase price is $22 million.
The company plans to develop the site as the Lone Wolf Energy Center. Plans call for up to 70 MW of data center capacity, with potential to reach 100 MW. The project would include on-site power generation, battery storage and microgrid capabilities.
NextNRG also signed a binding lease with a pharmaceutical company for an existing building on the property. The lease runs for 10 years and covers 50,000 square feet. It will take effect when the acquisition closes and is expected to provide immediate revenue.
About 27 acres are slated for the new data center and energy infrastructure. The acquisition remains subject to definitive agreements and necessary approvals.