Evergy reported 3 GW of large-load customer contracts signed and a 5 GW generation pipeline under construction, positioning itself as a major AI data center power provider.
Evergy has executed electric service agreements with 2.5 GW of data centers under its large-load power service tariff, along with agreements representing 500 MW of smaller large loads, bringing the utility's total signed large-load contracts to 3 GW. The company is currently in advanced discussions with additional large-load customers representing 1 to 2 GW of capacity, CEO David Campbell said during the company's second-quarter earnings call.
To support this growth, Evergy plans to build more than 5 GW of generation capacity through 2032, comprising 3.9 GW of natural gas generation, approximately 800 MW of solar, and 450 MW of battery storage. This expansion would augment Evergy's existing generation fleet of around 15.8 GW.
The recently signed electric service agreements support Evergy's revised forecast of 7% to 8% retail sales growth through 2030, up from the 6% projection announced in the fourth quarter of 2025. CFO Bryan Buckler attributed the upward revision to increased large-load business, noting that customer ramps are already underway and expected to continue building through 2030 and beyond. Digital Realty's contract, announced in the first quarter, represents the fifth ESA customer.
The customers currently in advanced discussions have acquired land or land rights and signed letters of agreement, with Evergy actively reviewing transmission and generation capacity solutions for these prospects. Most of this opportunity is expected to materialize beyond 2030. Campbell also noted that the remaining pipeline of incremental projects not yet in active development totals well over 10 GW, also primarily materializing after 2030.
Evergy remains confident in its near-term execution pipeline. The company expects to sign at least one additional ESA in 2026 and plans to provide further details during its third-quarter earnings call in November. Campbell emphasized that momentum with the customer pipeline remains strong and is expected to continue into 2027.
However, serving additional load beyond the 3 GW already signed will require incremental generation resources and capital expenditure. The generation expansion outlined in Evergy's integrated resource plans is not included in the company's current $21.6 billion, five-year capital expenditure plan announced in February. Evergy estimates that its pending resource plans would add approximately $1 billion in capital spending.
Year-over-year weather-normalized demand grew 1.8%, with year-to-date growth of 3.3%, driven primarily by commercial and industrial demand. Commercial demand specifically increased 4% year to date, reflecting the initial ramp-up and higher usage associated with data center projects.