American Electric Power plans roughly $4 billion for a 702-megawatt Bloom Energy fuel-cell project near Cheyenne, backed by a 20-year power-purchase agreement with Google. AEP expects construction to begin this year and full operation by the end of 2028; it will own about 92% of the project, with Basalt-advised funds holding the rest. The numbers make the data-center power constraint tangible: about $5.7 million of announced capital per megawatt, tied to one long-duration customer contract. The open question is execution and economics, not whether power has become part of AI financing. Reuters, Oct. 14