Fluor wins EPC mandate from TeraWulf for Kentucky data center campus
On 4 November 2026, Fluor entered a definitive EPC agreement with TeraWulf to engineer and build three facilities for the Justified Data Campus in Hawesville, Kentucky. Fluor expects to record the award in Q4 2026 after settling prices for the first two facilities, while initial site work is already underway. Successive portions are scheduled to enter service from late 2027 through Q2 2028, and Google is providing credit support for related project debt.
Why it matters
Fluor's award is expected to be recognized in Q4 2026, subject to pricing completion. For TeraWulf, the agreement adds an established construction partner and Google-backed debt support to the campus development plan.
Key facts
- 1Fluor signed an EPC agreement with TeraWulf covering three buildings at the Justified Data Campus in Kentucky. trend.az
- 2Fluor expects to recognize the award in the fourth quarter of 2026 after pricing is finalized for the first two buildings. trend.az
- 3Early construction had started under a limited notice to proceed announced in March 2026. trend.az
- 4Phased project completions are scheduled to start in late 2027 and continue through the second quarter of 2028. finance.yahoo.com
- 5TeraWulf obtained credit support from Google for debt financing linked to roughly US$19 billion of Anthropic lease commitments. kenya-today.com
- 6Fluor did not disclose the contract value. finance.yahoo.com
Open questions
- Fluor's contract value remains undisclosed; the US$4 billion figure in one material refers to the overall campus rather than the EPC award.
- The contract's cost-overrun cap is described only as a defined percentage of Fluor's profit, without a numerical percentage.
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.