Takanock LLC has secured capital commitments totaling $500 million from ArcLight and DigitalBridge to power data center development, Takanock said June 25.
The capital will go toward Takanock’s onsite power solutions, which include an eventual substation and wholesale grid resource for data centers.
Takanock was formed in 2023 by the founder of Google Energy Kenneth Davies to address power shortages affecting data center development.
Takanock’s power solutions provide data centers power without relying on offsite generation, lessening the burden from local utilities and preventing the cost from shifting to existing utility customers, the company said in a press release. Pipeline constraints are also not a factor for the centers to obtain power.
"To meet the increasingly compute-intensive needs of hyperscalers and large-scale data center operators, it's essential to combine expertise from both the energy and digital sectors," said Davies, Takanock’s CEO. "What makes this partnership so significant is our ability to deliver integrated solutions, accelerating time to power for new data center deployment while strengthening grid reserve margins and flexibility.”
ArcLight and DigitalBridge bring digital and electrification infrastructure expertise to the partnership.
“ArcLight and DigitalBridge bring tangible operational capabilities and industry connectivity that will help us operationalize digital power solutions in premier Tier I data center markets where existing constraints are most acute,” Davies said.
Takanock is currently working to deploy digital power under long-term contracts at late-stage projects in Northern Virginia and Phoenix.
Houlihan Lokey served as exclusive financial adviser to Takanock for the transaction.
