Six deliverables, one fixed price each, and a standing engagement at A$12,000 a month. The price quoted is the price invoiced.
8to 20 business days
Delivery, counted from countersignature of the scope schedule.
Nilto start
A brief assessment carries no charge, and neither does the written answer where a brief is declined.
2business days
Time from a brief arriving to the written assessment of it.
Source: inashanu price schedule, effective 21 September 2026.
Nil charge and two business days: terms of engagement, acceptance of briefs. As at 20 September 2026.
Australian data centre operating IT load, base case, megawatts
6 annual observations of Australian data centre operating IT load, all on one basis, rising from 1,350 megawatts in 2025 to 6,000 megawatts in 2030, with a 2030 low case of 5,000 megawatts. 1,350 megawatts at 2025 is classified reported, source ITK Research, Can data centres lower electricity costs? US and Australian industry positions on flexibility, demand response and behind-the-meter batteries, as at 11 May 2026. 1,819 megawatts at 2026 is classified an inashanu estimate, source inashanu Australian data centre primer, market sizing model, Market_Sizing, cell F14, base case row, as at 21 September 2026. 2,452 megawatts at 2027 is classified an inashanu estimate, source inashanu Australian data centre primer, market sizing model, Market_Sizing, cell G14, base case row, as at 21 September 2026. 3,304 megawatts at 2028 is classified an inashanu estimate, source inashanu Australian data centre primer, market sizing model, Market_Sizing, cell H14, base case row, as at 21 September 2026. 4,452 megawatts at 2029 is classified an inashanu estimate, source inashanu Australian data centre primer, market sizing model, Market_Sizing, cell I14, base case row, as at 21 September 2026. 6,000 megawatts at 2030 is classified an inashanu estimate, source inashanu Australian data centre primer, market sizing model, Market_Sizing, cell J14, base case, on the 2030 target in Assumptions cell E9, as at 21 September 2026. 5,000 megawatts at 2030 is classified an inashanu estimate, source inashanu Australian data centre primer, market sizing model, Market_Sizing, cell J13, low case, on the 2030 target in Assumptions cell E8, as at 21 September 2026. Held off the axis and not plotted: 3,530 megawatts at 2025 and 7,180 megawatts at 2030, classified flagged, on IT load capacity or installed capacity, megawatts, source Mordor Intelligence, Australia Data Center Market, as at 14 January 2026. The publisher counts IT load capacity or installed capacity, which includes racks installed and not yet drawing load; the axis counts operating IT load.
Held off the axis
Mordor Intelligence publishes a capacity series for the same market on a different measure: "In terms of IT load capacity, the market is expected to grow from 3.53 thousand megawatt in 2025 to 7.18 thousand megawatt by 2030, at a CAGR of 15.25% during the forecast period (2025-2030)."
That publisher defines the measure in one sentence: "The IT load capacity or installed capacity, refers to the amount of energy consumed by servers and network equipments placed in a rack installed." Racks installed include racks that are not yet drawing load, so its 3,530 MW for 2025 and the 1,350 MW of operating load above are two quantities of different scope. The pair is held off the axis above and carried here.
Source
Source: Mordor Intelligence, Australia Data Center Market. As at 14 January 2026.
Australian data centre operating IT load, base case, megawatts. Source: inashanu Australian data centre primer, market sizing model. As at 21 September 2026.
2025 base 1,350 MW on Operating IT load, national, megawatts. Source: ITK Research, Can data centres lower electricity costs? US and Australian industry positions on flexibility, demand response and behind-the-meter batteries. As at 11 May 2026.
Prices exclude GST and are fixed at countersignature of the scope schedule. Delivery is stated in business days from countersignature. Named options carry published increments, which are set out in the scope schedule before work starts.
Source: inashanu price schedule, effective 21 September 2026.
Held off the scale
Standing engagement, catalogue item 07, is A$12,000 a month on a twelve-month term. A monthly retainer and a fee for one deliverable are different quantities, so it is named here and the scale above carries the one-off fees.
Its price and its term are set out at catalogue item 07 below.
A$0A$45,000
01
Catalogue item 01. Market map
The structure of a defined sector, sized bottom up. Ships with a live workbook and the source log.
A$14,00010 business days
02
Catalogue item 02. Competitive teardown
Three named entities, reconstructed from their own published artifacts. Ships with an entity-level evidence file.Additional named entities are A$4,500 each, quoted in the scope schedule before work starts.
A$19,00012 business days
03
Catalogue item 03. Pre-IC screening memo
The question, the evidence, the three assumptions that carry the outcome, and the condition under which the conclusion would be wrong.
A$24,00012 business days
04
Catalogue item 04. Industry primer
A structured dataset, a bottom-up model and an interactive explorer for a defined market.
A$32,00020 business days
05
Catalogue item 05. Independent read
A conclusion reached without sight of yours, fixed and time-stamped before yours is disclosed, followed by a concurrence and divergence matrix.
A$45,00015 business days
06
Catalogue item 06. Assumption stress test
Your model, audited for the assumptions that drive the outcome and for the market share, penetration or price realisation the base case requires.
A$16,0008 business days
07
Catalogue item 07. Standing engagement
One named market, maintained. A monthly change report, up to three written questions answered within two business days, and the dataset refreshed each month.Twelve-month term, three months' notice.
A$12,000 per monthMonthly
Off the scale
The price quoted is the price invoiced. Scope, price and delivery date do not change without a countersigned variation.
Describe the decision and the date it has to be made.
The written reply names the product that answers the question, the price, and the delivery date. Where the evidence base will not carry findings at our standard, it says so and names what is missing. There is no charge for either reply.
The same asset, valued at 21 times and at 87 times.
Multiple on the AirTrunk transaction as reported by the valuer, against about 87 times expected calendar-2024 earnings reported elsewhere on the same asset. The valuer bounds its own figure to the whole business.
As reported by the valuer
21x
Multiple of contracted EBITDA on the reported transaction value, for the entire business operations.
Source: PwC Australia, Data centre valuation: The billion-dollar question. As at 10 March 2026.
Reported elsewhere, about
87x
Multiple of expected calendar-2024 EBITDA, on the same asset.
Reuters Breakingviews, as at 5 September 2024, reporting the Australian Financial Review.
“This sale was reported to be a 21x contracted EBITDA multiple. We note that this applies to the entire business operations.”
The two figures count different earnings over different periods. Each is carried on this page with the basis its publisher stated, and the classification records that the pair has been reconciled to that extent and no further.
Carried in the inashanu Australian data centre primer, transaction table.
Every figure on this page carries a source and a date.
A quantitative statement without a citation and a date is not usable by an investment committee.
The figures here are drawn from the sample primer and from the public registers behind it. Each is rendered with its publisher and the date to which it is current, and the panel records each one as you pass it.
Where a figure is an estimate produced by us, it is identified as an estimate and the basis is stated.
1,350 MW
Australian operating data centre IT load at end 2025.
Basis: Operating IT load, national, megawatts.
“Australia's operating IT load is ~1.35 GW at end-2025 versus ~50 GW in the United States.”
Source: ITK Research, Can data centres lower electricity costs? US and Australian industry positions on flexibility, demand response and behind-the-meter batteries. As at 11 May 2026. Carried in the inashanu Australian data centre primer at Assumptions cell E7.
Four files go out together, and the set is what a client receives: the primer, the editable deck behind it, the model with its formulas live, and the explorer the figures were checked in.
The source log and the data-gap register are sections of the primer and sheets of the workbook, so a figure can be followed from the page it is quoted on to the cell that produces it. Read it before the conversation.
85 pages. 121 logged sources. 15 recorded data gaps. Bottom-up capacity model over 24 named facilities. Evidence current to 22 September 2026.
Source: the published primer and its companion workbook. As at 22 September 2026.
Prepared to demonstrate the standard applied to client work. No client information appears in it.
Industry primer
Pages85
Logged sources121
Recorded data gaps15
Named facilities24
22 September 2026Australian data centres
Open the file set
Nothing here is gated. No form, no email address and no registration stands between a reader and any of the four files.
The whole primer is also published as 30 pages on the web, indexed by the question each one answers, with the publisher and the as-of date beside every figure rather than in a footnote at the bottom.
Four of those pages take a question the published sources answer two different ways. Each carries both numbers and states what each one measures. They are the shortest way to see the standard this studio works to.
Source
The inashanu Australian data centre research corpus and the primer it is generated from, 121 logged sources. As at 21 September 2026.
Every answer below is the operative wording of a clause in the terms of engagement, and each one links to the clause it is taken from.
What it costs
Six deliverables, one fixed price each, A$14,000 to A$45,000 excluding GST, and a standing engagement at A$12,000 a month. The price is fixed at countersignature of the scope schedule, and the price quoted is the price invoiced.
8 to 20 business days from countersignature, stated against each product in the catalogue. The standing engagement runs monthly for a twelve-month term.
The report, the structured dataset behind it and the working model with its formulas live, together with the source log and the register of questions the evidence did not answer. The files remain with the client after delivery.
Each deliverable includes a register of the questions within its scope that the available evidence did not answer, with the effect of each on the findings.
We set out in writing what the available record does and does not contain, and what would have to become available for the question to be answerable. There is no charge for that assessment.
Each quantitative statement carries a citation to its source and the date to which that source is current. An estimate produced by us is identified as an estimate and the basis is stated.
Deliverables comprise research and analysis. They do not constitute financial product advice, legal advice or a recommendation to enter into any transaction, and recipients should obtain advice from an appropriately licensed adviser.
Briefs are assessed before a price is issued. A brief is declined where the available evidence base will not support findings at the standard set out in our terms. This most commonly arises where the subject is a small private market with no filings, no regulator returns and no published pricing, or where the question turns on information held only by the parties to a transaction.
Where a brief is declined, we set out in writing what the available record does and does not contain, and what would have to become available for the question to be answerable. There is no charge for that assessment.