100% Fee-Simple Private Land — Zero Federal Permitting

Power. Fiber. Water. All Private. The Hyperscale Site That Shouldn't Exist.

17,571 deeded acres. 3+ GW solar. OPGW fiber on the gen-tie. Sub-20ms to Silicon Valley. 3,226 AF/yr of senior water rights. Zero federal land. Zero NEPA. County permits only.

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17,571
Fee-Simple Acres
3+
GW Capacity
9/10
DC Viability Score
50%
Combined ITC
Fiber-Ready Infrastructure — OPGW + Zayo Backbone
Direct to Landowner — No Brokers
Fee-Simple Ownership — Zero Federal Permitting
The Land

Two Private Ranches. Two Grid Paths. Zero Federal Risk.

17,571 deeded acres across two independent grid pathways — 100% fee-simple ownership, zero BLM permitting on either site

17,571
Deeded Acres
~10,135 (Clear Creek) + 7,436 (Butte Valley) — 100% fee-simple
3+
GW Combined Capacity
Solar + storage across both sites
~3 mi
To 345kV Corridor
Clear Creek — Tracy-Valmy
~22 mi
To 500kV Hub
Butte Valley — Robinson Summit
3,226
AF/Year Water
Pre-1940s senior rights
9/10
DC Viability Score
Clear Creek — Fiber-Ready Campus
Firm Baseload Upside · Same Land
50–100 MW Conceptual Geothermal Layer

Clear Creek sits on the eastern margin of the Battle Mountain–Eureka trend — one of the most productive geothermal corridors in the continental U.S. The same 14 parcels, the same 345 kV Tracy–Valmy gen-tie, and the same NRS 534A private-surface regime would support a conceptual firm 24/7 layer on top of the solar program.

See the geothermal pathway
Transmission Infrastructure

Two Independent Grid Pathways

~3 miles to 345kV Tracy-Valmy (Clear Creek) and ~22 miles to Robinson Summit 500kV (Butte Valley) — independently verified against OSM and HIFLD federal data

Interactive Satellite Map — Real KML Coordinates — ESRI Imagery · OSM + HIFLD Verified · 345 kV Tracy–Valmy 3.26 mi from Closest Parcel

Dual Transmission Pathways

Two independent grid connections eliminate single-point-of-failure risk and provide access to Nevada's full transmission network.

  • Clear Creek (Lead Asset): ~3 mi to NV Energy 345kV Tracy-Valmy corridor — flat desert gen-tie, no mountain crossings. Connects via Tracy Sub to Fort Churchill and Greenlink West.
  • Butte Valley: ~22 mi to Robinson Summit 500kV convergence hub. ON Line (600MW, operational since 2014) + Greenlink North (525kV, ~240 mi, 2026–2028) + Cross-Tie (1,500MW, 500kV, ~214 mi to Utah, 2027–2028) all meet at Robinson Summit
  • Cross-Verified: Distances confirmed against OSM and HIFLD federal transmission data (DHS/DOE, 40-ft avg. offset)
  • Market Access: CAISO, Pacific Northwest, and Southwest corridors via both pathways
  • Queue Window: OASIS interconnection study window opens June–July 2026

* Most competitors face 15–40 mi gen-ties across federal land

Dual 345 kV + 500 kV grid pathways — ready for hyperscale interconnection.

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Firm 24/7 Upside · Same Footprint

A Conceptual Geothermal Layer on the Exact Same Land.

Clear Creek sits on the eastern margin of the Battle Mountain–Eureka trend — one of the most productive geothermal corridors in the continental U.S. The same 345 kV Tracy–Valmy gen-tie and the same NRS 534A private-surface regime that make it a Tier-1 solar platform would support a conceptual firm baseload layer on the same 14-parcel footprint.

50–100 MW
Conceptual Firm Baseload  ·  Binary ORC Geothermal
Pre-drilling. Subject to confirmation through the stage-gated program below.
Same 14-Parcel Clear Creek Footprint
Battle Mountain–Eureka Trend · Eastern Margin
>100 mW/m²
Regional Heat Flow
Battle Mountain trend vs. Basin-and-Range background
163–173°C
Estimated Reservoir Temperature
Binary-cycle optimal range — Jersey Valley analog operates at similar conditions
NRS 534A
Private-Surface Permitting
BLM Section 8 does not apply. Federal schedule risk removed.
345 kV
Shared Gen-Tie
Solar and geothermal export via the same Tracy–Valmy corridor
~90%
Plant Capacity Factor
Binary geothermal benchmark — the "firm" in firm baseload for 24/7 compute
$340–540M
Firm-Power Premium / 100 MW
The premium hyperscalers pay for firm 24/7 geothermal over intermittent solar alone
The Closest Physical Proxy

Jersey Valley — Same County. Same Structure. Same Permitting. Operating Since 2010.

Ormat's Jersey Valley binary plant is the single most directly relevant analog in Nevada: same Pershing County, same extensional structural setting, same NRS 534A private-surface framework, same binary-cycle economics.

Analog economics alone do not establish resource presence at Clear Creek. Temperature-gradient drilling and magnetotelluric survey work are required — exactly what the stage-gated program below is structured to deliver.

The Template Already Exists

Three precedent hyperscaler × geothermal transactions in the last 24 months — two of them in the Basin and Range province where Clear Creek operates.

Date · Region
Counterparty · Structure
Scale
Feb 17, 2026
Nevada + Utah
Google × Ormat
Framework agreement for new geothermal supplying Google data-center load.
150 MW
Aug 2024
East of Rockies
Meta × Sage Geosystems
Next-generation geothermal deal powering Meta data centers. First phase 2027.
150 MW
Nov 2023
Nevada
Google × Fervo — Project Red
First commercial U.S. EGS project. 191°C reservoir, 63 L/s flow. NV Energy CTT.
115 MW
Mar 2026
Utah
Fervo Cape Station — Non-Recourse Close
$421M project-finance close. First EGS non-recourse in U.S. history. Bankability proof.
500 MW
May 2024
Kenya
Microsoft × G42 — Olkaria
$1B geothermal-powered data center campus. Co-location model scaling 100 MW to 1 GW.
100 MW → 1 GW

Stage-Gated 2026–2031 Pathway

Capital released stage by stage against technical gates. No material well-field spend until the resource is temperature- and flow-validated.

1
Q2–Q4 2026
Desktop & Geophysics

Heat-flow, MT/gravity, structural mapping.

$0.5–1.5 M
2
Q4 '26–Q2 '27
Temp-Gradient Drilling

3–6 slim holes to 500–1,500 ft.

$2–5 M
3
Q3 '27–Q2 '28
Exploration Wells

2–3 full-depth wells to 6–10k ft.

$20–45 M
4
2028–2031
Development & Plant

Doublets, binary/flash plant, grid tie.

$400 M–$1.2 B

Contractual vehicle: Nevada Clean Transition Tariff, approved by PUCN on May 13, 2025 — a direct bilateral pathway for large-load customers to procure incremental clean generation. Conceptual feasibility based on regional heat-flow trends and producing analog fields. No site-specific temperature-gradient drilling, MT survey, or exploration wells have been completed at Clear Creek to date. All figures are ranges, subject to confirmation through the stage-gated program above. Nothing here constitutes a resource report under SEC or SPE standards.

The full Clear Creek Geothermal Feasibility analysis is available in the confidential data room.

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Institutional Opportunity

$850M+ Platform Value Identified Across Two Sites.

The full financial model — NPV ranges, phase-by-phase capex, firm-power premium analysis, and ITC stacking — is available in the confidential data room. Here is the headline structure.

Combined Platform
$850M–$2.1B+
Combined NPV Range (Base → Upside)
Across both Clear Creek and Butte Valley, inclusive of solar, geothermal premium, and data center value
Phase 1
225–375 MW
Phase 1 Power (2026–2029)
CC: 50–100 MW geo + 75 MW solar | BV: 100–200 MW solar+BESS
Phase 1 Capex
$700M–$1.0B
Phase 1 Capital Requirement
Stage-gated — capital deployed against technical and commercial milestones
Firm Premium
$340–540M
Firm-Power Premium per 100 MW Geothermal
The value a hyperscaler pays for 24/7 firm baseload over intermittent solar alone
Full Build
500+ MW
Full Build-Out Power (2031+)
3+ GW solar resource potential across two independent grid pathways
ITC Stack
Up to 50%
Combined Investment Tax Credit
30% base + 10% Energy Community (both counties) + 10% Domestic Content
All figures are from the confidential Helios X data room and are subject to the assumptions, caveats, and risk factors described therein. NPV ranges reflect base-case and upside-case scenarios. Nothing here constitutes an offer to sell or a solicitation of an offer to buy any securities.
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Full financial model, feasibility analyses, and legal documentation available under NDA.

Power + Fiber Convergence

Fiber-Ready Data Center Campus

OPGW fiber on the same gen-tie that delivers power — sub-20ms to Silicon Valley — 3,226 AF/yr water for cooling — county permits only

OPGW on 345kV Gen-Tie
Power + Data Converged

Optical Ground Wire on NV Energy 345kV Tracy-Valmy corridor. Most efficient co-location architecture available.

Zayo I-80 Backbone
$66M Infrastructure

400G DEAN architecture, ~800 mi, BLM-approved, under construction through Pershing County. Open-access dark fiber.

Sub-20ms Latency
Silicon Valley Direct

Ultra-low latency to Silicon Valley, Sacramento, and Western U.S. cloud hubs. Carrier diversity via Zayo + Lumen (Level 3) on I-80 corridor.

Water Rights Surplus
3,226 AF/yr Senior Rights

Solar uses only ~20 AF/yr per GW. Massive surplus for DC evaporative cooling + ranch operations.

PUE Savings Over 20 Years
$40M–$75M

Evaporative cooling advantage from 3,226 AF/yr senior water rights. Pre-1940s priority — no curtailment risk.

Clear Creek Lateral
$378K–$430K | 3–6 Months

Buried fiber on private land. County permitting only. Direct connection to OPGW and Zayo backbone.

Private Land Advantage
County-Level Only

Zero federal involvement. Zero NEPA. County SUP + local permitting for speed-to-market.

Two Data Center Campuses. Different Strengths. One Platform.

Each site fills the other's structural gap. Zero cross-site dependency. A hyperscaler can fund Phase 1 work on both in parallel.

Geothermal-First Anchor
9/10
Clear Creek Ranch — Pershing County
  • ✓ 3.26 mi to 345 kV + OPGW fiber
  • ✓ $378K–$430K fiber lateral cost
  • ✓ 3–6 months to fiber-ready
  • ✓ Zayo I-80 backbone ~30 mi
  • ✓ Sub-20ms to Silicon Valley
  • ✓ 2,569 AF/yr senior water rights
  • ✓ 50–100 MW firm 24/7 geothermal
  • ✓ County permitting only (NRS 534A)
Solar-First Data-Center Campus
8/10
Butte Valley Ranch — White Pine County
  • ✓ 500 kV Robinson Summit hub — 4 outbound paths
  • ✓ Cold-climate PUE advantage ($40–75M savings over 20 yr)
  • ✓ 6,000–6,500 ft elevation — natural cooling
  • ✓ Top-decile 6.0+ kWh/m²/day solar irradiance
  • ✓ 100–200 MW Phase 1 solar + BESS
  • ✓ 657 AF/yr senior water rights
  • ✓ Flat terrain, road access — purpose-built for hyperscaler infrastructure
  • ✓ County permitting only

Why Two Sites Beat One

Two Independent Grids: 345 kV (operating) at Clear Creek + 500 kV hub (4 paths, 3 regional markets) at Butte Valley. No single-point-of-failure grid risk.
Firm + Scale: Clear Creek delivers 24/7 geothermal baseload. Butte Valley delivers Tier-1 solar scale + cold-climate DC campus. Together: 500+ MW firm platform.
Regulatory Diversification: Two counties, two independent permitting tracks, two energy community certifications. Parallel development — not sequential.
Combined Water: 3,226 AF/yr pre-1940s senior rights across both sites. Evaporative cooling viable year-round at Butte Valley; closed-loop binary at Clear Creek.
The Private Land Advantage

Helios X vs. Typical BLM Sites

Every factor that delays federal projects is eliminated here

Factor Helios X (Private) Typical BLM Site
Land Control FEE-SIMPLE Right-of-Way lease
NEPA Required NO YES (EIS/EA)
Federal Permitting NONE 18-36+ months
Development Certainty HIGH VARIABLE
Time to COD 2-3× FASTER Extended
Permitting Cost 30-50% LOWER Higher
Tax Equity Risk LOWER HIGHER
Water Rights PRE-1940s SENIOR Often contested
Agrivoltaics Compatible PROVEN OPS Limited/uncertain
Fiber Optic Access OPGW ON GEN-TIE None (typical)
Data Center Co-Location CAMPUS READY (9/10) Not applicable
Regenerative Energy Ready

Proven Agrivoltaic Operations

40 years of active ranching — 1,650 cattle + 9,000 sheep — ready for dual-use solar integration

Established Operations

40-year family ranching history with proven grazing management across 1.49 million controlled acres — active operations on both Clear Creek and Butte Valley ranches

Senior Water Rights

Pre-1940s priority rights with 3,226 AF/year permitted — no disputes, year-round availability

Dual-Use Ready

Infrastructure in place for seamless solar-grazing integration — aligned with Silicon Ranch model

Helios X vs. Silicon Ranch Snipesville (Flagship Site)

Helios X
17,571 AC
~7× larger land base
Snipesville
2,600 AC
Silicon Ranch flagship
Helios X Livestock
10,650
1,650 cattle + 9,000 sheep
Snipesville
Sheep Only
Grazing program
Tax Incentive Structure

Up to 50% ITC + Critical Safe Harbor Deadline

IRA credit stacking on 3+ GW private-land platform — construction must begin by July 4, 2026

ITC Credit Stack

Standard ITC 1
30%
+ Energy Community 2
40%
+ Domestic Content 3
50%
Up to 50%
Total ITC Potential

1 Prevailing wages + apprenticeship requirements apply.
2 Subject to fossil fuel employment (FFE) qualification at construction start.
3 Subject to domestic equipment availability at economic price.

OBBBA Safe Harbor Deadline

July 4, 2026
Physical work test or 5% cost incurrence must begin by this date to preserve §48E eligibility through December 31, 2033

Combined Platform

3+ GW
NV Energy 2024 IRP: ~5,900 MW DC load requests vs. ~2,400 MW approved — 3,500 MW structural shortfall

Behind-the-Meter Power

Generate + Consume On-Site
Solar power feeds co-located data center campus directly — surplus exports to grid via NV Energy

Energy Community Certified

Both Sites
DOE/NETL confirmed — qualifies for +10% ITC adder on both properties

ITC eligibility subject to prevailing wage, apprenticeship, and equipment sourcing requirements. Subject to detailed feasibility study, interconnection studies, and tax counsel review.

Roche Ranches

Roche Ranches — 3rd Generation

Patient Capital • Long-Term Partners • Proven Operators

Our family has operated one of the largest ranching enterprises in the Intermountain West for over 40 years. We're not looking for a quick lease check — we want to build something that lasts, integrating renewable energy with our agricultural heritage.

Helios X represents our commitment to the future: clean energy production that complements and enhances our ranching operations, creating value for generations to come.

40+
Years Operating
1.49M
Controlled Acres
7
Ranches
3
States
Next Steps

See It. Evaluate It. Build It.

Walk 17,571 acres of private land. Direct access to the landowner.

Contact Helios X

Schedule a site visit, request materials, or start a conversation
Pershing & White Pine Counties, NV
Dallin Watts — Managing Partner, Helios X LLC

Confidential data room access requires NDA execution. All materials prepared with institutional-grade legal and financial counsel.

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