Capital Power Enters Long-Term Power Deal for Meta's Data Center in Alberta
Capital Power (CPX.TO) said Wednesday it entered a long-term energy supply agreement to provide 250 megawatts of electricity to a Meta Platforms (META) data center being developed in Sturgeon County, Alberta.The project is expected to begin operating in the second half of 2028. The agreement, which is set to run for more than ten years, allows Capital Power to maintain flexibility for future opportunities at its Genesee site, while supporting Meta's investment in digital infrastructure and economic growth in Alberta, the company said."We're grateful to the Government of Alberta and the Federal Government of Canada for creating an investment environment that makes projects like this possible," Chief Executive Avik Dey said, adding that the agreement reflects growing demand for reliable, scalable electricity to support AI infrastructure.Alberta's provincial government on Wednesday said Meta plans to spend C$13 billion on its first Canadian data center, creating 3,000 construction jobs and 300 permanent positions.Capital Power shares closed up C$1.49, or 2%, to C$74.40.
