The announced pipeline is enormous, and must be discounted before use
The announced pipeline by operator, from the majors to the platform, joint-venture and regional entrants, including Firmus funded at 150 MW against a 1,600 MW 2028 target. Announced capacity is stated as announced, then discounted separately.
The announced pipeline is enormous, and must be discounted before use (phantom-demand lens on page 29)
Named projects under construction, approved or exhibited: part 1 of 2 (n/d = not disclosed)
| Project | Metro | MW | Capex (A$) | Status (Sep 2026) |
|---|---|---|---|---|
| AirTrunk SYD4, Mamre Rd/Kemps Creek | Sydney | up to 1,200 | ~5bn (est.) | SSDA exhibited; seeking ~$4.3bn construction debt |
| AirTrunk SYD3 expansion, Huntingwood | Sydney | 400 | n/d | Operating/expanding: AU's largest operating campus |
| AirTrunk MEL2 | Melbourne NW | 354+ | 5bn+ | Site acquired Dec 2025; opening targeted 2H 2027 |
| NEXTDC S7 (OpenAI MoU) | Eastern Creek, Sydney | 612 (550 announced) | 7bn | SSD assessment; Phase 1 target H2 2027; land $353m |
| NEXTDC S4 | Horsley Park, Sydney | ~300 | n/d | 250 MW record contract signed; early works |
| NEXTDC M4 | Fishermans Bend, Melbourne | n/d | 2bn | Committed; liquid-cooled AI factory |
| CDC Marsden Park | Sydney NW | 504 (~1,000 scalable) | 3.1bn | SSD approved Nov 2025; >200 MW underway |
| CDC Eastern Creek EC5/6 | Sydney | 108 (IT) | 1bn | Under construction |
| CDC Laverton C1+C2 | Melbourne west | 450 (150 first campus) | n/d | First campus UC since Feb 2025; CDC's A$2.7bn is its construction-phase economic-impact estimate |
Beyond the majors: platform, JV and regional entrants, led by Firmus, funded at 150 MW against a 1,600 MW 2028 target
| Project | Metro | MW | Capex (A$) | Status (Sep 2026) |
|---|---|---|---|---|
| Stack MEL02 | Truganina, Melbourne | 252 | part of $1.3bn green loan | Shell complete late 2025 |
| Stack MEL01 C+D | Truganina, Melbourne | 108 | as above | Topped out Nov 2025 |
| Stockland/EdgeConneX JV | Wetherill Park, Sydney | 160 | n/d | JV Mar 2026; under construction |
| ISPT Kemps Creek | Sydney | up to 1,000 | 5bn | Announced |
| Goodman SYD01 | Sydney | 90 | n/d | Commenced 1H26 |
| Goodman 'Project Atlas' | Eastern Creek, Sydney | ~500 | up to 5bn | SEARS filed |
| Macquarie DC IC3 Super West | Macquarie Park, Sydney | 63 | 350m | Construction since Jun 2024 |
| Microsoft Azure Melbourne region | Melbourne | 48 to 150 | part of A$25bn program | Opened Jul 2025 |
| Firmus Southgate (TAS + mainland) | Multi-metro | 150 funded (1,600 by 2028) | >4.5bn (MEL ph.1) | MEL phase 1 UC; US$10bn debt facility |
| Keppel Hazelwood | Latrobe Valley, VIC | 720 | n/d | Proposed, brownfield power site |
| GreenSquareDC SYD1 | Norwest, Sydney | 110 | 1.2bn | Announced; AI-ready |
| Stack Horsley Park | Sydney | 450 | 3.7bn | Application lodged |
| Project Meridien | Broome, WA | 1,000 | n/d | Proposed |
| DigiCo SYD1 upgrade | Ultimo, Sydney | 26 to 88 | n/d | 15 of 20 MW upgrade complete May 2026 |
| Anthropic lease, Western Downs hub | Dalby, QLD | n/d | ~30-32bn (hub) | Lease signed 16 Sep 2026; hub online from 2027 |
n/d = not disclosed. Stages across pages 27-28 run from operating to proposed; the following page screens this pipeline for deliverability: power, contract, funding and planning. Where a source publishes a target larger than the funded or approved figure, the MW column carries the smaller one: Firmus Southgate enters at its 150 MW Melbourne phase, and the 1,450 MW balance of the 1,600 MW 2028 target sits outside every pipeline total, entering the bull case alone (workbook Metro_Capacity, cell B48). Two rows across these pages disclose no megawatts and add nothing to either pool.
Sources
- ITK Research top-10 UC, as at May 2026
- NSW Planning Portal
- DCD
- Baxtel
- The Good Builder, as at May 2026
- iEnvironmental, as at Jun 2026
- Troview, as at Jun 2026
- Mingtiandi
- W.Media
- company releases
Related
- How much of Australia's announced data centre pipeline will actually be built?
- What is data centre land worth in Australia?
- How much data centre capacity will Australia have in 2030?
- What are Australia's new data centre energy rules?
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