Grey-space power skids, white-space IT-hall pods, the four interfaces between them, and the 2024-2026 M&A window that reshaped the vendor field.
Efficiency is migrating from ESG preference to procurement constraint. EU EED reporting → rating → minimum standards; Singapore DC-CFA2 allocation gate at PUE ≤ 1.25; US state mosaic (Virginia, Oregon, California). Vendor implications on UPS topology, PDU efficiency, cooling-electrical co-design.
Hall BESS as a distinct asset class. Wholesale grid-services asset deployed inside a data hall. Revenue stack across cost avoidance, ancillary services, capacity, demand response. Vendor set: Tesla Megapack, Fluence, Powin, Sungrow, Wärtsilä. Contract structure is the killer question.
Standalone deep-dive on the lithium UPS battery / BBU. LFP dominant, NMC niche, nickel-zinc pilot cohort. Killer thesis: pricing power migrates from UPS OEM to cell supplier over the decade. Trade-policy overlay (Section 301, 45X FEOC), 800V DC BBU migration, three-tier vendor set.