Approach

Seven stages. What is in scope and what is not at each one.

Continode works a defined sequence from site identification to operating partnership. Each stage has a clear scope boundary. Where partners are needed — hyperscalers, EPCs, utilities — we name the category and the role. We do not name specific counterparties without their permission.

Identify

4–8 weeks per candidate site

In scope: Site screening against power, water, fibre, and land criteria simultaneously
Grid headroom assessment using AEMO ISP and network operator publications
Landowner engagement and tenure review
Preliminary planning and zoning assessment
Cooling pathway logic (water availability, climate, site orientation)
Out of scope at this stage: Formal connection applications — these come in Diligence, once site control is likely
Capital raising — too early to structure before the site case is established
Construction planning — premature before grid pathway is confirmed
Stage output: Site viability memo: pass/fail against all four inputs, constraint register, and a recommendation on whether to proceed to Diligence.

Diligence

6–12 weeks

In scope: Formal grid connection enquiry with the relevant TNSP or DNSP
Comparative pathway analysis: transmission connection vs. distribution connection vs. behind-the-meter (BTM)
Equipment lead time assessment for long-lead HV plant (24–36 months in current market)
Water access confirmation — potable and process water for cooling envelope
Fibre route mapping and carrier route potential
Land tenure legal review, easement mapping, and expansion area assessment
Planning constraint deep-dive and early government engagement where relevant
Out of scope at this stage: Connection application lodgement — this is lodged once site control is confirmed
Capital structure — commences in Acquire as the project becomes investable
EPC selection — requires a defined scope that exists only after Diligence is complete
Stage output: Diligence report: connection pathway shortlist with timeline and cost implications, tenure assessment, planning advice, and recommendation on Acquire.

Acquire

8–20 weeks

In scope: Landowner agreement: purchase, long-form option, or JV structure depending on landowner preference and project capital stage
Formal connection application lodgement
Capital structure design: ownership vehicle, return profile, FIRB pathway, UAE capital introduction pathway
Diligence room preparation for capital partner engagement
Operator model selection: wholesale colocation vs. neocloud vs. hybrid
Out of scope at this stage: Construction commencement — this waits for connection offer and planning approvals
Named tenant discussions — these proceed in parallel but do not gate site control
Stage output: Controlled site, capital structure paper, formal connection application on lodge, and investor-ready transaction outline.

Permit

6–18 months. Planning timelines are the primary variable; Queensland major project processes differ from standard DA pathways.

In scope: State and local planning approvals (development application, environmental impact assessment where required)
Federal Critical Infrastructure Security Act compliance pathway
FIRB clearance if required by capital partner nationality
Connection offer negotiation: terms, scope allocation, security, and milestones
Easement formalisation for connection works
Out of scope at this stage: Construction commencement — staged to follow planning approvals and connection offer acceptance
HV equipment procurement — can commence pre-approval on risk, but is not formally committed until permits are clear
External partners needed: Planning advisors, environmental consultants, legal counsel, and government stakeholders. Network operators for connection negotiation.
Stage output: Development approval, connection offer accepted, FIRB cleared (if applicable), easements registered.

Build

18–36 months. HV plant lead time is the dominant constraint in the current supply environment.

In scope: EPC contractor selection and contract negotiation
Long-lead equipment procurement: HV transformers, switchgear, cooling plant
Construction programme coordination against connection works milestones
Owner's representative function: reporting, procurement tracking, risk register management
Tenant technical interface: rack density, power distribution, cooling specification, redundancy level
Out of scope at this stage: Subcontractor management — EPC contractor holds that responsibility
Facility operations — separate from construction management; operator partner is engaged during Build, not after
External partners needed: EPC contractors, HV equipment manufacturers, cooling suppliers, fibre carriers, and the relevant TNSP or DNSP for connection works coordination.
Stage output: Powered shell or base build ready for fit-out, depending on tenant and operator model.

Commission

3–6 months

In scope: Testing and commissioning: HV systems, cooling, fire suppression, security, and power distribution
TNSP or DNSP energisation milestone coordination
Uptime Institute Tier III or Tier IV classification process (if required by tenant)
ISO 27001 and ISO 22301 readiness review
Operational readiness plan: staffing, maintenance contracts, emergency procedures
Out of scope at this stage: IT infrastructure — tenant's responsibility in wholesale colocation; operator's responsibility in neocloud
Ongoing facility management — transitions to the operator at handover
Stage output: Energised, commissioned facility with operational readiness confirmed and tenant activation gated.

Operate

Ongoing, structured per asset management agreement

In scope: Operating partnership model: governance, reporting cadence, and performance metrics
Capital recycling advisory: refinancing options, asset sale, or long-term hold decision
Tenant covenant management: lease renewal, capacity expansion, and exit terms
Carbon and sustainability reporting: renewable PPA alignment, carbon attestation, CSRD-aligned disclosure
Asset management for institutional capital partners
Out of scope at this stage: Day-to-day facility operations — this is the operator partner's function, not Continode's
IT workload management — outside the physical and financial infrastructure scope
Stage output: Ongoing advisory on asset performance, capital structure, and strategic options as the facility matures.

Risk framework

Four things that kill these deals. How Continode de-risks each one.

Hyperscale data centre projects in Australia fail for four reasons. Not market demand — that is not the constraint. They fail on power, planning, capital, and hyperscaler commitment. Each risk has a specific mechanism and a specific de-risk approach.

Power

What kills deals: Grid connection timelines that cannot close a tenant's commissioning window. HV equipment lead times that pre-date the connection offer. BTM capital cost that makes the project economics unworkable.
How Continode de-risks it: Power is treated as the first commercial workstream, not a late technical dependency. Connection enquiry begins before site control is confirmed. BTM is assessed in parallel with grid-first pathways from the beginning.

Planning

What kills deals: Development applications that take longer than the connection timeline, destroying schedule alignment. Environmental issues discovered in DA that should have been identified in Diligence. Zoning incompatibility that makes data centre use require a rezoning rather than a standard approval.
How Continode de-risks it: Planning screening is done in the Identify stage. Sites with material planning risk are flagged before site control is sought. Government engagement on major project pathways is initiated early, not after a standard DA is refused.

Capital

What kills deals: Capital partners whose mandate does not match the project stage — a stabilised-asset fund cannot hold a development-stage site. Capital partners with FIRB-triggering nationality who are identified late in the process. UAE capital that is genuinely interested but not structured for Australian infrastructure.
How Continode de-risks it: Capital structure is designed in Acquire against the specific project profile. FIRB analysis happens before capital is sought, not after. UAE capital introductions are made only when the project can support institutional diligence.

Hyperscaler commitment

What kills deals: A hyperscaler conversation that is qualified enough to justify site origination but not binding enough to support capital raising. Tenant technical requirements that change after the facility design is fixed. A hyperscaler whose procurement process runs 18–24 months, during which connection and planning timelines are also running.
How Continode de-risks it: Tenant dialogue is initiated in Originate and structured to produce written technical requirements before the capital raise. Facility design is staged against connection milestones, not tenant commitment milestones, so the project can proceed at its own pace. [VERIFY: Gary to confirm whether any hyperscaler conversations are at a stage that can be referenced in public materials.]

Services and engagement format South East Queensland 400 MW project sheet