Itaipu and Crusoe's AI centre in Paraguay

Paraguay sells Brazil the part of its half of Itaipu that it does not use. Now the US State Department has announced an agreement for a high-performance computing and AI centre supplied by the plant, with Crusoe, an AI infrastructure company, and the Paraguayan company Araico.

An EFE dispatch published by Swissinfo on 27 July 2026 gives the measure of the dependence: Itaipu accounts for around 90% of the Paraguayan electricity market and around 7% of the Brazilian one. Annex C of the treaty, which sets financial and service conditions, was still under negotiation, and the new president of ANDE, Miguel Báez, advocated gradually diversifying the country's generation.

A large consumer anchored to a single binational plant concentrates supply in a single asset and a single treaty. Energy for new Paraguayan consumers comes out of the half the country is entitled to, and the conditions of Annex C remain under discussion.

For investors, the attraction is renewable energy at scale. The diversification ANDE is signalling, with solar projects in the Chaco, is what can reduce exposure to a single supplier.