A major push into Europe’s fast-growing data centre market is underway as an Australian property firm joins hands with a Canadian pension investor. The move reflects rising demand for digital infrastructure across key European cities.
Goodman Group said on Tuesday that it has entered into a partnership worth A$14 billion, or $9.32 billion, with the Canada Pension Plan Investment Board to develop data centre projects in Frankfurt, Amsterdam and Paris. The agreement sets up a 50 50 joint venture focused on large scale data centre development across these locations.
The venture marks Canada Pension Plan Investment Board’s (CPPIB) first data centre partnership in Europe. It will begin with an initial total capital commitment of A$3.9 billion. The portfolio includes 4 projects with a combined 435 megawatts of primary power and 282 megawatts of IT load, which refers to the electricity supplied directly to servers and computing equipment.
“All projects provide speed to market with secured power connections, planning permits and substantially progressed site infrastructure works, enabling construction commencements by 30 June 2026,” the companies said in a joint statement. The transaction will be completed in phases and is expected to close by March 2026, according to the firms.
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