Alcoa to sell Massena East smelter site for up to $315 million to data‑center developer
Alcoa announced an agreement to sell part of its idle 1,600‑acre Massena East aluminum smelter site in New York to a buyer linked to NYDIG for a total consideration of up to $315 million. The transaction is expected to close within six months, with an initial cash payment of $50 million to $65 million and further payments of $60 million to $250 million tied to approved data‑center capacity over the next seven years. Alcoa said the deal advances its strategy to monetize former smelter assets and will provide cash up‑front and upside as the data‑center campus is built.
Why it matters
The company expects to receive $50 million‑$65 million at closing and up to $250 million over the following years, which will bolster cash flow and fund its asset‑monetization program (Alcoa’s statement).
Key facts
- 1Alcoa agreed to sell part of its idle 1,600‑acre Massena East smelter site for up to $315 million. datacenterdynamics.com
- 2The buyer is an affiliate of NYDIG, identified as North Country Colocation Services. datacenterdynamics.com
- 3The transaction is expected to close within six months. datacenterdynamics.com
- 4Alcoa expects an initial cash payment of approximately $50 million to $65 million at closing. datacenterdynamics.com
- 5Additional payments of approximately $60 million to $250 million are tied to approved data‑center capacity over a seven‑year period. datacenterdynamics.com
- 6The site is permitted for an initial 180 MW and could be expanded to 635 MW in phases. datacenterdynamics.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.