SpaceX plans $24 billion gas power plant, data center project in Texas
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓SpaceX plans a $24 billion gas power plant and data center project in Texas.
- ✓The company filed for a property tax abatement, which the Starbase City Commission will consider on December 9.
- ✓Building this private power plant could help the firm avoid long waits to join the main Texas grid.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Reuters
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The rockets-to-AI company's request comes as opposition to data centers grows, with voters rejecting them in 40 of 41 local ballot measures and Democrats, some of whom had campaigned on pausing new projects, taking control of the US Congress and the Texas governor's office in the midterm elections.
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The filing shows SpaceX, which bought Elon Musk's AI lab xAI earlier this year, has applied for a property tax abatement for the project. The Starbase City Commission will consider the abatement, plus a related economic development agreement, at a public meeting on December 9.
The notice describes $24 billion as the estimated capital investment for the project's initial phases. It said the work may be done in multiple phases and could include future expansions.
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