(RTTNews) - Canada Pension Plan Investment Board said on Tuesday that it has inked a deal to establish a A$14 billion European data centre partnership with Goodman Group (GMG.AX, GMGSF.PK).
Max Biagosch, Senior Managing Director & Global Head of Real Assets for CPP Investments said: "This partnership allows us to capitalise on a compelling growth opportunity for the long-term benefit of CPP contributors and beneficiaries."
The 50:50 partnership has an initial total capital commitment of A$3.9 billion to develop a portfolio of data centre projects in Frankfurt, Amsterdam, and Paris.
The partnership's portfolio comprises four projects totaling 435 MW of primary power and 282 MW of IT load-Paris, Frankfurt, and Amsterdam.
The transaction will settle in phases and is expected to be closed by March 2026.
The construction works will commence by June 30, 2026.
The Goodman European Data Centre Development Partnership, or GEDCDP, is CPP Investments' first data centre partnership in Europe.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
