Crusoe, a Denver-based data center developer, confirmed Friday that it has sold an unfinished data center project in southeastern Wyoming to Google. Crusoe was valued at $30.9 billion recently, according to the report.
Google had tried and failed to become a customer for the project. It is now taking over development after reportedly raising concerns about the project's cost and construction timeline under Crusoe's management.
Crusoe first announced the project last year with Tallgrass, a Blackstone-backed infrastructure company. The plan called for eventually scaling the site to 10 gigawatts of power capacity. Google did not disclose what it paid Crusoe. It has announced plans to invest $17 billion to develop the campus.
The report says the deal shows how hard it can be for independent developers to deliver large projects on time and on budget, citing difficulties securing equipment and power. Growing local opposition can add further complications.
Google has not stopped working with Crusoe. Crusoe is developing another data center for Google near Amarillo, Texas. The sale was first reported by Bloomberg in June. Crusoe still raised a $3.9 billion funding round in September.
The report says Crusoe earns revenue by leasing data center space to customers who