Alberta's technology and energy sectors are set for a significant boost with a major new investment from Europe. Two European firms have finalized plans to construct four new data centres across the province at a total cost exceeding $1.26 billion.
European Partners See Alberta Advantage
The ambitious project is a joint venture between Data District Inc., a division of Swiss asset manager Alcral AG, and Portugal-based Technologies New Energy plc. The companies have committed to developing the facilities over the next decade, with the first two projects slated for small-town Alberta.
Carlos Caldas, Chief Executive of Data District, cited Alberta's favourable business environment and, crucially, its energy supply as the primary drivers behind the investment. "Energy was a big, big factor. I would probably say energy might be almost the biggest factor in our decision," Caldas stated. He also praised the province's "openness to business," contrasting it with less seamless experiences in other jurisdictions.
Project Rollout: Starting in Olds and Bonnyville
The construction timeline is already mapped out. The partners will break ground on their first data centre in the central Alberta town of Olds in 2026. This will be followed by a second facility in Bonnyville, located northeast of Edmonton, in 2027. The locations for the subsequent two centres have not yet been disclosed.
A unique aspect of this venture is its approach to power. Technologies New Energy, responsible for the projects' energy needs, plans to supply 80 per cent of the electricity for all four data centres through its own generation. The remaining 20 per cent will be drawn from the provincial grid. Caldas highlighted the ability to "bring their own power" as a key policy attractor offered by the Alberta government, noting it helps accelerate project timelines.
Boosting Alberta's Tech Ecosystem
The announcement has been welcomed by Alberta's homegrown technology industry. Cory Janssen, CEO and co-founder of Edmonton-based AI firm AltaML, expressed a "techno-optimist" view of the development. "We want to see as many data centres built... more is always better," Janssen said, noting that his company works with both large hyperscale providers and local data centre operators.
This investment is the latest in a series of data centre projects drawing attention to Alberta. Just last week, Capital Power Corp. announced a binding agreement to negotiate electricity supply with an unidentified data centre developer, signalling continued interest in the province as a hub for digital infrastructure.
The nearly €780 million (EU$780 million) commitment underscores a growing trend of international capital recognizing Alberta's combination of reliable energy, competitive economic policies, and strategic location for serving North American digital markets.
