A massive data centre development in Alberta, supported by European investors, has the potential to become a $12.8 billion (€8 billion) investment over the coming years, according to company leadership. This project positions Alberta's energy-rich landscape as a future hub for artificial intelligence and high-performance computing.
European Partnership Drives Ambitious Alberta Blueprint
The venture is a collaboration between Data District, a division of Swiss-based manager Alcral AG, and Technologies New Energy PLC (TNE) based in Porto, Portugal. The first phase, announced in December 2025 and valued at €780 million, will break ground on a site in Olds, Alberta, located roughly an hour's drive north of Calgary.
However, the long-term vision is far grander. Carlos Caldas, CEO of Data District, revealed the consortium's plan is to eventually build 1 gigawatt of data centre capacity across the province. "We were very impressed with the province’s approach to business and data centres in specific," Caldas stated, noting Alberta was chosen over Texas for the bulk of their North American resources.
Leveraging Alberta's Natural Gas for Computing Power
Alberta is actively marketing its vast and inexpensive natural gas reserves as a key advantage for power-hungry data centres, especially those needed for AI development. The Data District project plans to generate 80% of its own power on-site using natural gas, with the remaining 20% drawn from the provincial grid, according to TNE CEO Julio Perez.
"I think Alberta has that advantage where there is gas and it’s their own gas, and they are encouraging now the use of that gas for data centres," Perez said in an interview. This strategy comes with the likely exposure to a planned provincial hardware tax due to the partial grid reliance.
Project Timing Follows Federal-Provincial Agreement
This significant investment announcement follows closely on the heels of a memorandum of understanding signed in late 2025 between Alberta Premier Danielle Smith and Prime Minister Mark Carney. That agreement involved federal concessions on clean electricity rules and emissions limits in exchange for Alberta strengthening its carbon pricing and trading system. A key component was federal support for new energy projects, including data centres.
While the data centre project has not yet secured specific customers, Perez expressed strong confidence, citing immense demand for computing capacity. "The funding is already there," he said, adding that the project has attracted interest from Asian sovereign investors. If fully realized, this would stand as one of the largest current projects in Alberta.
