PPL · 8-K · 20261106PR000050

Data Center Power Agreements

PPL Corp · 2026-11-06 · Importance 64 · Surprise 42 · In source text

Invitium Energy agreed to all key commercial terms with QTS for approximately 2 GW of generation capacity to support QTS’s data center project in Salem Township, Pennsylvania. The proposed agreement has a 20-year initial term with provisions for multiple five-year renewals, and Invitium also executed a cost reimbursement agreement with QTS covering specified development costs and commitments if certain project conditions are not met. The proposed portfolio includes two combined-cycle natural gas plants, supplemented by fuel cells and battery storage; fuel cells and storage could be online as early as 2029, while the gas units are expected online in 2032 and 2033. The term sheet is nonbinding and subject to customary conditions precedent.

Key facts

• Invitium Energy agreed to all key commercial terms with QTS for approximately 2 GW of generation capacity for QTS's Salem Township, Pennsylvania data center, with a 20-year initial term and multiple five-year renewal provisions; the term sheet is nonbinding and subject to customary conditions precedent. source
• Invitium executed a cost reimbursement agreement with QTS providing reimbursement and risk mitigation for specified development costs and commitments if certain project approvals and development conditions are not achieved. source
• Fuel cells and battery storage for the QTS project could be online as early as 2029; combined-cycle natural gas units are expected online in 2032 and 2033. source
• The QTS deal structure includes a fixed monthly payment with annual escalation covering return of and on invested capital and fixed operating costs, plus variable payments when facilities operate to cover fuel and other variable operating costs. source
• The proposed QTS generation portfolio comprises two combined-cycle natural gas plants complemented by fuel cells and battery storage, with the final fuel-cell and battery mix still being finalized. source

Impact estimates