February 23, 2026

Top news (3)

1. Virginia lawmakers consider tighter oversight of high-load interconnections and transmission cost allocation. Virginia pushes SB619 and SB339 to reform data centers highlights proposed State Corporation Commission (SCC) oversight for large data centre interconnections and a mandated review/adjustment of how transmission costs are allocated—against a backdrop of >US$28bn in forecast transmission costs by 2040 (Dominion Energy) and reported 70 GW+ of contracted data centre load in the state.

2. Ohio proposes a state-level study commission as data centre growth accelerates. Data centers in Ohio: Economic boost or environmental burden? notes House Bill 646 would create a bipartisan commission to assess environmental, grid, water, noise and local economic impacts, amid debate over incentives including US$140m in tax exemptions and an estimate of ~US$1.6bn in foregone state/local revenue tied to incentives for major hyperscalers.

3. India framed as an APAC-scale capacity and investment opportunity—conditioned on grid execution. Deloitte: India can become Asia Pacific data centre hub projects India data centre capacity rising from ~1.5 GW (2025) to 8–10 GW (2030), with AI-linked demand +40–45 TWh by 2030, and positions grid upgrades, renewables alignment, long-term PPAs, and storage-backed hybrids as key enablers.

Key deals & projects (by region)

Asia – India (market outlook)

• Deloitte: India can become Asia Pacific data centre hub
  • Capacity outlook: ~1.5 GW (2025) to 8–10 GW (2030).
  • Demand driver: AI-linked incremental electricity demand of 40–45 TWh by 2030.
  • Investment context: Asia Pacific could attract ~US$800bn in data centre investment by 2030 (report estimate).
  • Execution requirements (enablers): solar-wind hybrids with storage, long-term PPAs, and transmission upgrades.

North America – United States (policy-driven market shaping)

• No individual project announcements in today’s set; coverage is concentrated on grid interconnection governance, cost allocation, and incentive scrutiny (Virginia, Ohio).

Power, grid & interconnection highlights

United States – Virginia

• Virginia pushes SB619 and SB339 to reform data centers
  • Interconnection oversight: SB619 would require SCC oversight for high-load data centre interconnections.
  • Transmission cost allocation: SB339 would mandate review/adjustment of transmission cost allocation.
  • Scale indicators cited: data centres reportedly consume 25–40% of Virginia’s power; contracts >70 GW; Dominion Energy projects >US$28bn in transmission costs for 2040.

Asia – India

• Deloitte: India can become Asia Pacific data centre hub
  • Frames grid constraints as central: aligning renewables buildout with digital load growth and upgrading transmission to unlock capacity additions.

Policy & regulation

United States – Virginia

• Virginia pushes SB619 and SB339 to reform data centers
  • Policy direction is toward more formal regulatory oversight of high-load interconnections and revisiting who pays for transmission expansion as load growth accelerates.

United States – Ohio

• Data centers in Ohio: Economic boost or environmental burden?
  • House Bill 646: proposed bipartisan study commission to review environmental, grid, water, noise, and local economic impacts of data centres.
  • Incentives are in focus: article cites US$140m in tax exemptions and ~US$1.6bn in estimated lost state/local revenue tied to incentives for major hyperscalers.

United States – New York (broader ESG compliance signal)

• Weekly ESG roundup: corporate, finance, policy and climate actions
  • Notes New York lawmakers passed a bill mandating GHG disclosure by large companies—relevant for portfolio-level reporting expectations for data centre operators and large energy users.

Capital markets & corporate updates (relevant read-through)

• Weekly ESG roundup: corporate, finance, policy and climate actions
  • Microsoft: reported achievement of 100% renewable electricity.
  • While not data-centre-specific financing, the item reinforces the direction of travel on renewables procurement claims and disclosure requirements that can influence colocation selection and hyperscaler contracting standards.

Two-line wrap

US states with heavy or rising data centre load are moving toward more scrutiny of interconnections, transmission cost allocation, and incentives, with Virginia and Ohio as current examples. India’s growth narrative remains compelling, but the investability hinges on grid delivery, long-term PPAs, and storage-backed renewables integration.