🚨 $CIFR gets conditional Batch Zero classifications on 3.2 GW of Texas load, likely spread across both "Base" and "Studied". The Street had been looking for roughly 2 GW of Base Load across Colchis, Mikeska and McLennan, with Apollo (900 MW) and the Stingray expansion (200 MW) submitted as Studied Load. Obviously the big question is how much of this 3.2 GW is Base vs Studied (the latter containing risk of a haircut unless Cipher can supplement with on-site generation). Cipher says it is still working with its transmission service providers (TSPs) on the site-level designations before giving more detail next week. This is exactly why they hired Bill Blevins, who joined Cipher in June after serving as ERCOT’s Director of Grid Coordination. Hopefully he’s earning his comp this week. Reca
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