Tim Stenovec

And the great thing about growth is you can invest in innovation.

And that's what we're doing is we're explicitly purchasing solar paired with storage so that we can increase the renewable mix on the grid overall.

That benefits us and the entire state.

Mayor Mahan, any interest yet from some of the large hyperscalers or large tech companies in Silicon Valley for using this capacity?

What can you tell us?

We have a very robust pipeline.

PG&E did a cluster study last year that's already outdated because there's so much more demand.

I suspect most of those two gigawatts of new power coming online will be spoken for over the next 18 months.

We've got a long pipeline of

interested parties, the usual suspects, the hyperscalers and the big data center developers, some advanced manufacturing uses.

So PG&E will be updating their cluster study.

We'll get a better look at how much demand there is in the city of San Jose, but last year showed

over 800 megawatts worth of demand.

I suspect it's quite a bit higher now this year, especially with this news.

As you know, for this particular site, Prologis builds for the world's largest companies, the hyperscalers, the most innovative companies on earth.

And this particular location is a real win-win because it doesn't displace housing or retail or any other uses.

It's underutilized land next to a wastewater treatment facility that just happens to have

a lot of new power capacity, and recycled water just adjacent to the site.

So it's kind of the perfect place to do this.

Matt Mahan, the mayor of San Jose, California.