Figure 1
Worldwide Stranded Power & Sovereign Sanctuaries — Category View
Legend:
Sanctuary
Tier 1 access, optimal efficiency
Arbitrage
Tier 2 access, strategic opportunity
Forbidden
Embargoed or non-viable assets
Dark Horse
Domestic arbitrage opportunities
Source: Code & Capital – Iron Cloud Triangle Framework Analysis, December 2025
Figure 2 — Power Type Distribution
Power Type Distribution
Breakdown of 75 stranded power assets by generation type
Hydro47 (62.7%)
Flared Gas10 (13.3%)
Solar/Wind6 (8.0%)
Geothermal4 (5.3%)
Hydro Pumped Storage3 (4.0%)
Wind2 (2.7%)
Solar2 (2.7%)
Coal1 (1.3%)
75
Total Assets
47
Hydro Assets
10
Flared Gas
10
Solar/Wind
SanctuaryTier 1 access, optimal efficiency
ArbitrageTier 2 access, strategic opportunity
ForbiddenEmbargoed or non-viable assets
Dark HorseDomestic arbitrage opportunities
Source: Code & Capital – Iron Cloud Triangle Framework Analysis, December 2025
Table 1 — Target Region Assessment Matrix
| Region | Category | Power Asset | Export Status | Climate | Verdict |
|---|---|---|---|---|---|
| Quebec | Hydro (Constrained) | Tier 1 | Sub-arctic / Free Cooling | Difficult | |
| Newfoundland | Hydro (~500MW+) | Tier 1 | Sub-arctic / Free Cooling | Viable | |
| British Columbia | Hydro (1.1GW new) | Tier 1 | Cold Continental | Difficult | |
| Manitoba | Hydro (Deficit) | Tier 1 | Continental Cold | Difficult | |
| North Dakota | Flared Gas (~1GW+) | Tier 1 | Continental Cold | Viable | |
| Texas | Flared Gas (>2GW) | Tier 1 | Hot / High PUE | Viable | |
| Greenland | Hydro (Potential ~800MW) | Tier 1 | Arctic / Free Cooling | Frontier | |
| Southeast Alaska | Hydro (~9.8GW potential) | Tier 1 | Subarctic / Cold | Frontier | |
| Kenai Peninsula | Hydro (120MW) | Tier 1 | Subarctic / Cold | Niche | |
| Tabasco/Veracruz | Flared Gas (~2GW) | Tier 2 | Tropical / Hot | Difficult | |
| Paraguay | Hydro (~2GW surplus) | Tier 2 | Sub-tropical / Humid | Viable | |
| Paraguay | Hydro (~270MW expansion) | Tier 2 | Sub-tropical / Humid | Viable | |
| Argentina | Flared Gas (~1.4GW) | Tier 2 | Arid Steppe / Cool | Viable | |
| Argentina | Hydro (1.3GW) | Tier 2 | Patagonian Cold | Difficult | |
| Chile | Wind (Potential >10GW) | Tier 2 | Sub-polar / Free Cooling | Difficult | |
| Venezuela | Hydro (~4GW idle) | Restricted | Tropical / Hot | Forbidden | |
| Brazil | Hydro (11GW) | Tier 2 | Tropical Rainforest | Difficult | |
| Colombia | Hydro (2.4GW) | Tier 2 | Tropical Andean | Difficult | |
| Ecuador | Hydro (1.5GW) | Tier 2 | Amazonian / Humid | Difficult | |
| Peru | Hydro (~1GW) | Tier 2 | Andean Highland / Cool | Viable | |
| Potaro-Siparuni | Hydro (165MW planned) | Tier 2 | Tropical Rainforest | Watch | |
| Potaro-Siparuni | Hydro (7.6GW potential) | Tier 2 | Tropical Rainforest | Frontier | |
| La Paz | Hydro (~200MW share) | Tier 2 | Tropical / Humid | Niche | |
| Cochabamba | Hydro (500MW combined) | Tier 2 | Andean Highland / Cool | Watch | |
| N. Norway | Hydro (>500MW surplus) | Tier 1 | Arctic / Free Cooling | Viable | |
| N. Sweden | Hydro (~1GW surplus) | Tier 1 | Arctic / Free Cooling | Viable | |
| Iceland | Geo/Hydro (Constrained) | Tier 1 | Oceanic Cold | Difficult | |
| Finland | Nuclear/Wind surplus | Tier 1 | Nordic / Free Cooling | Viable | |
| Spain | Solar (Curtailment) | Tier 1 | Mediterranean / Hot | Viable | |
| Georgia | Hydro (Seasonality) | Tier 2 | Mountain / Cool | Difficult | |
| Carinthia | Hydro Pumped (1.545GW) | Tier 1 | Alpine / Cool | Viable | |
| Alentejo | Solar/Wind (~500MW+) | Tier 1 | Mediterranean / Hot | Viable | |
| Valais | Hydro Pumped (900MW) | Tier 1 | Alpine / Cold | Viable | |
| Ethiopia | Hydro (~2-5GW) | Tier 2 | Tropical Highland | Viable | |
| Angola | Hydro (~2GW) | Tier 2 | Tropical Savanna | Difficult | |
| Mozambique | Hydro (~2GW) | Tier 2 | Tropical / Hot | Difficult | |
| Kenya | Geothermal (~900MW) | Tier 2 | Rift Valley Highland | Viable | |
| DRC | Hydro (Theoretical) | Tier 2/3* | Tropical / Humid | Forbidden | |
| South Africa | Solar/Wind (Off-grid) | Tier 2 | Semi-Arid / Hot | Viable | |
| Nigeria | Flared Gas (~50MW pilot) | Tier 2 | Tropical / Hot | Niche | |
| Ghana | Hydro (Constrained) | Tier 2 | Tropical / Hot | Difficult | |
| Algeria | Flared Gas (Massive) | Tier 2 | Desert / Hot | Difficult | |
| Morogoro | Hydro (2.115GW) | Tier 2 | Tropical Savanna | Viable | |
| Karuma | Hydro (600MW surplus) | Tier 2 | Tropical Savanna | Viable | |
| Sirte Basin | Flared Gas (>1GW) | Tier 2 | Desert / Hot | Forbidden | |
| Tete | Hydro (2.01GW) | Tier 2 | Tropical Savanna | Difficult | |
| Sarawak | Hydro (~1GW surplus) | Tier 2 | Tropical Rainforest | Viable | |
| Laos | Hydro (>2GW surplus) | Tier 2 | Tropical Monsoon | Difficult | |
| Bhutan | Hydro (Seasonal) | Tier 2 | Himalayan Cold | Niche | |
| Siberia | Hydro (>3GW surplus) | Restricted | Siberian Cold | Forbidden | |
| Kyrgyzstan | Hydro (Planned 1.8GW) | Tier 2 | Continental / Cold | Difficult | |
| Tajikistan | Hydro (Under Const.) | Tier 2 | Mountain / Cold | Watch | |
| Kazakhstan | Coal (Surplus/Deficit) | Tier 2 | Continental Steppe | Difficult | |
| Uzbekistan | Solar/Wind (>1GW) | Tier 2 | Desert / Hot | Viable | |
| Turkmenistan | Flared Gas (Massive) | Tier 2 | Desert / Hot | Difficult | |
| Indonesia | Hydro (9GW Planned) | Tier 2 | Tropical Rainforest | Watch | |
| Pakistan | Hydro (Under Const.) | Tier 2 | Mountain / Cool | Difficult | |
| Nepal | Hydro (456MW) | Tier 2 | Himalayan Cold | Difficult | |
| Basra/Rumaila | Flared Gas (~10GW) | Tier 2 | Desert / Extreme Heat | Viable | |
| Khuzestan | Flared Gas (~3GW) | Tier 2 | Desert / Hot | Difficult | |
| Sichuan | Hydro (10.2GW) | Restricted | Sub-tropical / Cool | Forbidden | |
| Yunnan | Hydro (16GW) | Restricted | Sub-tropical / Cool | Forbidden | |
| Various | Solar/Wind (>10GW) | Tier 2 | Various / Hot | Difficult | |
| Luzon | Geothermal (~2GW surplus) | Tier 2 | Tropical / Hot | Viable | |
| Sumatra/Java | Geothermal (~27GW potential) | Tier 2 | Tropical Rainforest | Difficult | |
| Gobi Desert | Solar/Wind (2GW) | Tier 2 | Desert / Extreme Cold | Viable | |
| Kachin State | Hydro (6GW) | Tier 2 | Tropical Monsoon | Forbidden | |
| Irrawaddy | Hydro (~34GW surplus) | Tier 2 | Tropical Monsoon | Difficult | |
| New Zealand | Hydro (~800MW) | Tier 1 | Temperate / Cool | Viable | |
| Queensland | Solar (Curtailment 2.66GW) | Tier 1 | Tropical / Hot | Viable | |
| Western Australia | Solar/Wind (Curtailment) | Tier 1 | Mediterranean / Hot | Viable | |
| New South Wales | Hydro Pumped (2.2GW) | Tier 1 | Temperate / Cool | Watch | |
| Tasmania | Hydro (2.3GW / 14TWh) | Tier 1 | Temperate / Cool | Viable | |
| Taupo | Geothermal (184MW) | Tier 1 | Temperate / Cool | Niche | |
| Papua New Guinea | Hydro (251GW Potential) | Tier 2 | Tropical Rainforest | Frontier |
n = 75 target regions
Category Analysis
The Sanctuaries
Tier 1 regulatory access with optimal thermodynamic efficiency. These locations offer the lowest operational costs and highest security for sensitive AI training workloads.
QuebecNewfoundlandBritish ColumbiaManitobaGreenlandSoutheast AlaskaKenai PeninsulaN. NorwayN. SwedenIcelandFinlandSpainCarinthiaAlentejoValaisNew ZealandQueenslandWestern AustraliaNew South WalesTasmaniaTaupo
The Arbitrage Zone
Tier 2 access with presumption of approval. Strategic opportunities where scale advantages outweigh regulatory friction. Paraguay represents the prime "Goldilocks" target.
Tabasco/VeracruzParaguayParaguayArgentinaArgentinaChile+39 more
The Forbidden Batteries
Embargoed, sanctioned, or structurally non-viable assets. These represent "ghost assets" with no legal pathway for deployment despite significant power potential.
VenezuelaDRCSirte BasinSiberiaSichuanYunnanKachin State
The Dark Horse
Domestic arbitrage opportunities leveraging stranded gas assets. Behind-the-meter deployments bypass multi-year grid interconnection queues.
North DakotaTexas
Classification Key
Legend
Sanctuary
Tier 1 access, optimal efficiency
Arbitrage
Tier 2 access, strategic opportunity
Forbidden
Embargoed or non-viable assets
Dark Horse
Domestic arbitrage opportunities