ONE Nuclear Energy LLC has executed a binding letter of intent securing site control for Project Cayman, a major energy development in Louisiana that combines a 2.88-gigawatt natural gas power plant, a 700-megawatt battery energy storage system with 2.88 gigawatt-hours of capacity, and a co-located high-capacity data center campus.

The West Palm Beach-based independent energy developer announced the agreement with a prominent Louisiana landowner group, marking what the company described as a significant step in its broader strategy to develop utility-scale energy infrastructure across the United States.

Project Scope and Location

Project Cayman is strategically positioned near Louisiana's RiverPlex MegaPark, northeast of SpaceX's recently announced infrastructure expansion in the state.

The project combines dispatchable natural gas generation with battery energy storage and data center facilities, a configuration ONE Nuclear says is designed to meet the power requirements of modern industrial and data-driven economies.

The battery energy storage component is sized at 700 megawatts with a total storage capacity of 2.88 gigawatt-hours. Combined with the natural gas generation capacity, the project is intended to provide grid reliability support to a region that is seeing rapid new industrial investment and transmission infrastructure buildout.

Richard Taylor, CEO of ONE Nuclear, framed the announcement in the context of the region's expanding economic footprint. "The project will deliver the reliable energy needed to support new investment, create jobs, expand the local tax base and generate additional funding for community priorities and critical infrastructure," Taylor said.

He also cited nearby developments as part of the rationale for the project, specifically referencing SpaceX's Starbase project and Hyundai's USD 5.8 billion steel mill as examples of the growing energy demand in the region.

Grid Infrastructure Alignment

ONE Nuclear said Project Cayman aligns with Entergy's significant buildout of new regional transmission infrastructure in Louisiana.

By adding dispatchable generation and energy storage near major new industrial loads and transmission investment, the company said the project is intended to contribute to broader regional grid reliability.

The site's proximity to the RiverPlex MegaPark and the SpaceX infrastructure expansion positions Project Cayman within a cluster of large-scale industrial and technology developments that are expected to place substantial new demands on the local power grid.

ONE Nuclear described its project as complementary to these regional economic development efforts.

Community Engagement Plans

Community outreach related to Project Cayman is already underway, according to the announcement. ONE Nuclear said it expects to hold a series of public information meetings with local parishes, governmental agencies, and other project stakeholders between September and December 2026. The company did not specify the locations of those meetings or the number of sessions planned.

Company Background and Business Combination

ONE Nuclear describes itself as an independent developer of scalable energy solutions powered by advanced technologies, with a focus on natural gas and advanced nuclear power generation for industrial and grid applications.

The company's stated approach is to develop, own, and operate utility-scale generation through what it calls a fast-to-market and fully integrated platform.

The Project Cayman announcement comes shortly after a significant corporate milestone for ONE Nuclear.

On August 24, 2026, shareholders of Hennessy Capital Investment Corp.

VII, listed on Nasdaq under the ticker HVII, approved a business combination with ONE Nuclear.

The combined company is expected to list on a national exchange under the ticker symbol ONEN. ONE Nuclear said the transaction is anticipated to close in the second half of 2026, subject to the satisfaction of customary closing conditions.

The binding LOI for Project Cayman represents one of multiple large-scale development efforts ONE Nuclear has disclosed. In the same announcement, Taylor referenced Project Azalea, another 2.88 gigawatt project, describing it as evidence of the company's commitment to supporting economic developmen2.88-gigawatta's industrial regions.

Industrial and Technology Demand Driving Development

ONE Nuclear's announcement reflects a broader trend of energy developers pursuing large-scale projects in response to surging electricity demand from data centers and industrial facilities.

The inclusion of a co-located data center campus within Project Cayman's design signals the company's intention to serve technology sector customers directly from the generation source, a model that has gained traction as hyperscale data center operators seek reliable, dedicated power supplies.

The project's 2.88 gigawatt capacity places it among the largest announced energy developments in Louisiana in recent years.2.88-gigawattsaid the LOI with the Louisiana landowner group provides site control necessary to advance the project through subsequent development stages, though the company did not specify a timeline for construction milestones, regulatory filings, or commercial operation.