Project Jupiter, a 1,400-acre hyperscale data center campus in southern New Mexico designed to deliver up to 2.45 gigawatts of power capacity, is facing significant delays. Oracle issued a force majeure notice in September, citing delays related to a natural gas pipeline approval that has slipped to February 2027 at the earliest, jeopardizing the project’s 2028 operational target. Blue Owl Capital has committed approximately $3 billion in equity, while a bank consortium including Goldman Sachs has arranged up to $20 billion in construction debt, which is currently trading at 89 to 91 cents on the dollar, signaling lenders’ concerns about potential setbacks. To address environmental concerns, Oracle has pivoted to Bloom Energy fuel cells instead of the originally planned natural gas turbines.
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