▸ Institutional Intelligence Platform · Oak Ridge Management

Where Power Access
Becomes Portfolio Thesis

CEH Infrastructure Index is the institutional analytical layer for evaluating AI data center assets through power readiness, site economics, and CEH-denominated benchmarking — built for capital allocators, developers, and institutional occupiers evaluating where compute demand and power-certain real estate converge.

▸ Platform Overview · Q2 2026 Active
36–48
Month power interconnect lead time at major U.S. queues
$500B+
Projected N. American data center capital deployment by 2030
Value differential — power-certain vs. power-pending sites
12–18
Month advantage — CEH-positioned sites vs. standard grid-connect
▸ The Index Defined

AI infrastructure, evaluated as a power asset.

CEH Infrastructure Index is the institutional analytical layer for understanding AI data center development through the lens of power certainty, site readiness, and CEH-denominated economics. It does not evaluate technology bets. It evaluates physical infrastructure — the sites, substations, power contracts, and construction pipelines that determine whether AI compute can be delivered at cost-competitive economics on a timeline that serves demand.

The core output is a structured, comparable view of infrastructure assets evaluated across three primary axes: power readiness, site readiness, and CEH economics. A fourth dimension — capital stack intelligence — translates those physical parameters into investable structures for institutional counterparties.

The Index exists because time-to-power is now the primary gating constraint on AI infrastructure ROI, and no existing information product evaluates sites on that basis with analytical rigor. CEH Infrastructure Index is built to fill that gap — and to give serious institutional counterparties the intelligence necessary to make power-first infrastructure decisions with confidence.

▸ Built For
PE & Infrastructure Funds
Underwrite assets on power and CEH economics — not software-multiple frameworks. Model time-to-power as the primary return driver.
Family Offices & Credit Platforms
Access institutional-grade site intelligence and CEH-denominated underwriting on a previously opaque asset class with structural demand tailwinds.
Hyperscaler Strategy Teams
Evaluate site and occupancy options on a power-adjusted cost basis before capital commitment. Filter on power readiness, not headline lease terms.
JV Capital Partners
Assess partnership economics, promote structures, and CEH-carry logic across DGEI's pipeline of power-first development sites.
▸ The Market Constraint

Power access is no longer a utility question. It is the investable variable.

The AI compute build-out has collided with a structural constraint in U.S. power infrastructure. Interconnection queues that previously cleared in 12–18 months now extend 3–5 years in major markets. The sites that solve this problem before institutional capital prices it fully are the highest-value infrastructure assets in the current cycle.

36–48mo
Interconnection Queue · Major U.S. Markets
MISO, PJM, and ERCOT interconnection queues have extended dramatically as AI and data center load growth outpaces transmission capacity expansion. FERC Order 2023 reforms have not yet resolved the backlog.
$500B+
Projected N. American Data Center CapEx · 2025–2030
Hyperscaler commitments, co-location expansions, and private capital deployments into AI infrastructure represent a capital wave with no historical precedent. Demand is structural and multi-year. Power is the binding constraint.
Value Premium · Power-Certain vs. Power-Pending Sites
Sites with substations controlled, interconnection agreements executed, and BTM generation alternatives in place command a material premium over comparable land without power clarity — a gap that CEH Infrastructure Index tracks systematically.
▸ Platform Architecture

Four integrated layers. One standards-driven platform.

DGEI and ORM operate across four integrated infrastructure layers — from physical power access through real estate and compute shell, to demand deployment and capital markets structures. CEH Infrastructure Index provides the analytical layer across all four.

Power Infrastructure
BTM generation, substation access, interconnection agreements, grid redundancy, fuel-agnostic sourcing
CEH Advantage
Energy rate at 0.4–0.6× grid average on BTM generation pathways
Time-to-Power
3–12 months vs. 36–48 months for standard grid-connect
Real Estate & Compute Shell
Site control, zoning, cooling, fiber, construction-ready shells designed for power-density AI workloads
Site Readiness
Land control + entitlements + fiber = deployable in 12–18 months
Power Density
100–200+ kW/rack designed for Hopper and Blackwell-class hardware
Compute Demand Deployment
Hardware placement, occupancy structures, hyperscaler and enterprise anchor tenants, managed compute models
CEH Economics
CEH Cost at 0.3–0.5× grid average at stabilized hardware utilization
Demand Profile
Structural AI inference + training demand; not speculative capacity
Capital Markets & HoldCo Structure
Equity waterfalls, preferred return tiers, incentive overlays, programmatic JV structures, and HoldCo promote
Capital Stack
60–70% levered equity structures with preferred return tiers
Incentive Coverage
30–40% of total development cost in available federal and state incentives
▸ Index Methodology

Four dimensions. Evaluated against institutional proof standards.

Each index dimension is scored against a four-move analytical framework: what it measures, why it matters for institutional decision-making, where the analysis breaks down, and what threshold still clears investment logic. Full methodology documentation is available to subscribers.

Dimension 01 · Power
Power Readiness Index
Measures the speed, certainty, and cost of power access for a given site — the single highest-impact variable in AI infrastructure underwriting.
What it measures
Grid interconnection status, BTM generation capacity, substation proximity and ownership, energization timeline, and redundancy path.
Why it matters
Time-to-power determines the vintage of returns. An 18-month power access site has a fundamentally different risk-return profile than a 6-month site, and neither can be evaluated on land price or location alone.
Where it breaks
Regulatory delays, transmission upgrade requirements, and utility queue management can extend modeled timelines beyond any initial projection.
Threshold that clears
PRI score 7.0+ indicates a demonstrated ≤12-month energization path with at least one BTM contingency — the minimum threshold for institutional consideration.
Dimension 02 · Site
Site Readiness Score
Measures how rapidly a site can convert power access into deployed capacity — the second gating constraint after power.
What it measures
Land control status, zoning and entitlements, fiber and carrier access, water and cooling availability, construction-ready infrastructure, and title clarity.
Why it matters
Site readiness translates power availability into deployable capacity. A site with power access and zero entitlements is 18–36 months from revenue — an often-overlooked gap in naive power-first analysis.
Where it breaks
Local jurisdiction variability in permitting timelines can compress or extend the site readiness gap unpredictably, particularly for large-footprint developments.
Threshold that clears
SRS score 6.5+ indicates zoning, land control, and fiber in place — shortening construction-to-revenue to 12–18 months when combined with PRI 7.0+.
Dimension 03 · Economics
CEH Economics Score
Translates site and power attributes into investable unit economics using the CEH benchmark framework — the key differentiator of the Index from comparable data products.
What it measures
Modeled energy rate at stabilization, projected PUE, hardware pathway, CEH cost per compute unit, and cost-per-unit relative to grid-average benchmark.
Why it matters
CEH Economics makes infrastructure advantage investable. A site scoring 0.4× grid-average CEH Cost has a structural cost advantage that compounds across every compute hour delivered — quantified, not asserted.
Where it breaks
Hardware cost resets, energy rate renegotiation, and compute demand profile shifts can alter the CEH economics model. The methodology models sensitivity across scenarios.
Threshold that clears
CEH Cost at or below 0.60× grid-average benchmark demonstrates structural economic advantage that persists across hardware generations and macroeconomic rate environments.
Dimension 04 · Capital
Capital Stack Intelligence
Translates physical site advantage into institutional-grade investment structures — quantifying the promote, preferred return, and incentive coverage at asset and platform level.
What it measures
Equity structure, leverage path, preferred return tiers, federal and state incentive availability, promote structure, and programmatic scalability at the platform level.
Why it matters
Capital stack intelligence converts site economics into LP returns. The difference between a site with and without incentive coverage is often the difference between a cleared and unceared preferred return — at current development costs.
Where it breaks
Incentive expiration, rising debt costs, and market timing risk affect capital stack optimization. The methodology models the window and scores it accordingly.
Threshold that clears
≥30% tax incentive coverage against total development cost retains investable economics across a range of macro rate environments when combined with PRI 7.0+ and SRS 6.5+.
▸ Market Intelligence · Preview

Ranked site intelligence across active U.S. markets.

Subscriber access includes ranked tables, site-level scorecards, power-pathway filters, CEH economics overlays, and incentive coverage data across all tracked sites. The preview below shows the scoring structure; full data requires access.

Market: Tier:
#
Site / Asset
Market
Tier
Power Ready
Site Ready
CEH Score
Status
01
West Texas Power Corridor
200MW · Brownfield BTM
ERCOT
Tier I
9.2 / 10
8.7 / 10
0.31×
Active
02
Central Texas Industrial Hub
150MW · Dual-Feed Substation
ERCOT
Tier I
8.9 / 10
8.1 / 10
0.34×
Active
03
Mid-Atlantic Power Anchor
120MW · Greenfield + BTM Hybrid
PJM
Tier I
8.6 / 10
7.9 / 10
0.36×
Active
▸ Capital Series · Research

Institutional infrastructure intelligence, published on a rolling basis.

The Capital Series is the editorial and research layer of CEH Infrastructure Index — deep-form analysis for institutional counterparties on power markets, CEH economics, site viability, capital structures, and emerging constraints. Available to subscribers and approved access counterparties.

Power Markets
Power Pathway Analysis: AI Infrastructure in 14 U.S. Markets
A systematic review of interconnection queue status, BTM availability, and time-to-power by market — providing the institutional foundation for power-first site selection across ERCOT, PJM, MISO, WECC, and secondary markets.
CEH Economics
CEH-Adjusted Site Economics: 20-Site Development Comparison
Direct comparison of CEH Cost, energy rate, PUE trajectory, and hardware pathway across 20 active development sites — providing the first standardized apples-to-apples CEH economics benchmark across the institutional market.
Infrastructure Finance
Time-to-Power as a Return Driver: Infrastructure Vintage Analysis
Quantitative analysis of how power access speed affects IRR and equity multiple across AI data center development scenarios — establishing time-to-power as a measurable, modelable return variable, not merely a qualitative risk factor.
▸ Engagement Paths

The right conversation depends on where you sit in the capital stack.

CEH Infrastructure Index serves four distinct institutional counterparty types. Each has a different entry point, a different set of relevant intelligence, and a different conversation with ORM. Select the path that matches your role.

Institutional Investor · LP
PE Funds & Family Offices
We provide institutional-grade site intelligence, CEH-denominated underwriting support, and structured access to DGEI platform economics. For funds and offices building or growing allocations to AI infrastructure as a power asset class.
  • Platform-level and asset-level financial models
  • CEH Economics underwriting templates
  • Capital Series research access
  • Co-investment consideration on qualified opportunities
Request Investor Briefing →
Infrastructure Developer · Operator
Developers & Operators
CEH certification pathway, site evaluation against the Index, and advisory engagement for developers building power-first AI infrastructure. Includes access to ORM's JV consideration pipeline and programmatic partnership review.
  • CEH Standard certification intake and review
  • Site scoring against Index dimensions
  • JV pipeline consideration and advisory program
  • CEH Economics modeling for prospective sites
Explore Developer Program →
Hyperscaler · Enterprise Occupier
Large-Scale Compute Buyers
Site readiness intelligence, power procurement analysis, and occupancy economics evaluated through the CEH lens. For large-scale compute buyers comparing site and power options across markets on a power-adjusted cost basis.
  • CEH-adjusted site cost comparison across markets
  • Power procurement pathway analysis
  • Occupancy structure and term analysis
  • Custom intelligence on target markets or sites
Discuss Site Requirements →
JV Capital Partner · Programmatic
Programmatic Partners
Structured programmatic partnership at the platform level. Equity co-investment, programmatic capital deployment, and access to DGEI's pipeline of CEH-advantaged sites. Designed for institutional counterparties seeking deployed-capital scale across multiple assets.
  • Programmatic equity co-investment structures
  • Preferred return tiers with ORM promote
  • Access to full DGEI development pipeline
  • CEH standard licensing and standard ownership economics
Explore JV Structure →
Certification Layer
CEH Standard™
CEH Standard is the independent, auditable measurement protocol that defines how energy converts to compute output. It is energy-agnostic, workload-portable, and designed for third-party validation across any hardware, any facility, any generation source. Version 1.0 published April 2026.
Visit CEH Standard →
Intelligence Layer
CEH Infrastructure Index™
CEH Infrastructure Index is the institutional intelligence application of the Standard. It translates CEH benchmark data into comparable site economics, market rankings, and investable infrastructure intelligence. The Index gains analytical credibility from the Standard's measurement rigor. The Standard gains institutional relevance from the Index's capital-markets application. They are architecturally distinct — and mutually reinforcing.
Explore Index Methodology →
▸ Selective Access

Access is reviewed, not open-enrollment.

CEH Infrastructure Index is not a mass-market information product. Access is reviewed by the Oak Ridge Management team and calibrated to institutional counterparties who can engage meaningfully with the intelligence — and with ORM's platform strategy.

We operate across four engagement types: institutional LP, infrastructure developer, hyperscaler/enterprise occupier, and programmatic JV partner. Each has a different access level and a different conversation. Tell us which applies to you.

Access reviews completed within 48–72 hours.
Initial engagement typically takes the form of a 30-minute briefing call with the ORM team.

✓ Request received.
The ORM team will review and be in touch within 48–72 hours.