Merlin Properties

Association is not economic attribution. These categories are deliberately never summed. A GPU vendor named on a one-gigawatt project does not own one gigawatt of it, and a utility serving a campus does not own the campus. Each figure counts the capacity of projects the company is linked to in that role, deduplicated by project and excluding cancelled ones — it is a measure of involvement, not of revenue, assets or contracted value. Contract terms are recorded only where a source discloses them. Methodology.