TransAlta, CPP Investments, and Brookfield partner for 1 GW data center development at Keephills site

The announced 1 GW data center campus at TransAlta's Keephills site in Canada represents a strategic convergence of power generation and digital infrastructure. This partnership between TransAlta, CPP Investments, and Brookfield leverages TransAlta's existing power generation infrastructure, offering a de-risked power supply for the massive 1000 MW data center demand. TransAlta benefits by securing a substantial, long-term off-take for its Canadian power assets, optimizing asset utilization at Keephills. For Brookfield, a global investment firm focused on long-life assets, and CPPIB, managing C$590.8 billion in net assets, this development provides access to a large-scale, integrated infrastructure play. The undisclosed value of this MOU, announced for February 27, 2026, suggests a foundational agreement for a multi-year development in Canada. TransAlta, a Canadian power generation and energy marketing company with a diverse portfolio including hydro, wind, and solar, diversifies its asset utilization by directly supplying a 1000 MW digital load. Canada Pension Plan Investment Board, managing C$590.8 billion in net assets as of Q3 2023, secures a direct infrastructure holding that aligns with its global investment strategy for long-term, stable assets. Brookfield, a leading global investment firm, applies its focus on building long-term wealth through high-quality assets to this significant Canadian data center project. The combined expertise of TransAlta's power generation, CPPIB's substantial capital, and Brookfield's global investment capabilities positions this partnership for a complex, large-scale infrastructure build in Canada.