ONE Nuclear Energy has executed a binding letter of intent providing site control for Project Cayman, a proposed 2.88 GW natural gas generation project in Louisiana paired with a 700 MW / 2.88 GWh battery energy storage system and a co-located high-capacity data center campus. The project places power generation, storage and data center infrastructure on the same development platform as Louisiana attracts new industrial and compute-intensive loads.
Project Cayman is planned near Louisiana's RiverPlex MegaPark and is positioned alongside expanding regional transmission infrastructure. ONE Nuclear said community outreach is underway, with public information meetings involving local parishes, government agencies and other stakeholders expected between September and December 2026. The company has not disclosed the planned capacity of the data center campus, construction schedule, expected capital investment, gas turbine suppliers, data center customers or power purchase arrangements.
"Project Cayman, with its 2.88 GW power capacity, demonstrates that ONE Nuclear is committed to supporting the future economic development of one of Louisiana's most important industrial regions," said Richard Taylor, CEO of ONE Nuclear. The announcement comes as ONE Nuclear advances plans to become a publicly traded company. Shareholders of Hennessy Capital Investment Corp. VII approved its previously announced business combination with ONE Nuclear on August 24, 2026, with the combined company expected to trade under the ticker ONEN following closing.
At this stage, Project Cayman remains a development project rather than an operating data center or power plant. The binding LOI establishes site control, but ONE Nuclear has not disclosed definitive construction contracts, generation equipment orders, interconnection milestones, financing, anchor data center tenants or a commercial operation date. Those milestones will be important indicators of how quickly the proposed 2.88 GW project can move from controlled land to delivered power.