Alcoa Corporation has agreed to sell parts of its former Massena East smelter in upstate New York to an unnamed data center developer for up to $315 million.
The deal is expected to close within six months. Alcoa expects to receive $50 million to $65 million initially, depending on approved data center capacity. A further $60 million to $250 million is possible over the following seven years as capacity expands and comes online.
Alcoa's former 1,600-acre Massena East smelter in New York could support up to 635MW of data center capacity, starting with 180MW. North Country Colocation Services, an NYDIG affiliate, is reportedly developing an 88-acre campus with two buildings totaling 635MW.
CEO Bill Oplinger said the agreement advances the company's asset monetization strategy. Alcoa is seeking buyers for ten former US smelter sites, with CEO Bill Oplinger saying two additional deals could progress soon.