DTE Energy Signs 1.4 GW Power and Storage Deal with Oracle Subsidiary
Reuters
Nov 01
DTE Energy Signs 1.4 GW Power and Storage Deal with Oracle Subsidiary
DTE Energy Company has announced the approval and execution of a Primary Supply Agreement $(PSA)$ and an Energy Storage Agreement (ESA) between its subsidiary, DTE Electric Company, and Green Chile Ventures LLC, a wholly owned subsidiary of Oracle Corporation. Under the PSA, DTE Electric will provide approximately 1.4 gigawatts of electric service to a future data center in southeast Michigan, with service ramping up to full delivery by December 2027 and continuing through February 2045, with options to extend. The PSA includes provisions for minimum monthly charges and possible termination fees. The ESA provides for DTE Electric to build and operate about 1.4 gigawatts of energy storage capacity to support the project, with each facility operated for 15 years and extendable by mutual agreement. Oracle Corporation is providing credit support for both agreements. Full details will be included in DTE Energy's forthcoming annual report.
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