Brookfield plans $27 billion AI data center, energy firm Drax shares jump 8%

Deep News11-03 17:12

Key points: Brookfield intends to build a data center with a capacity exceeding 1 gigawatt at a site in the UK.

The asset manager estimates the project's potential investment size could exceed 20 billion pounds (equivalent to 26.8 billion US dollars).

Brookfield Asset Management plans to build a large-scale artificial intelligence data center in northern England. Currently, Europe faces high energy and land costs, but is still stepping up the layout of supporting infrastructure to support the implementation and promotion of the AI industry.

Energy company Drax announced on Tuesday that it has reached an agreement with Brookfield and its cloud infrastructure-focused subsidiary platform Radiant to jointly develop an AI data center within the Drax power station site in North Yorkshire.

Drax's London-listed shares rose 8.2% in early trading. The project's first phase is planned for a capacity of up to 100 megawatts, scheduled to be completed and put into operation in the first quarter of 2028; between 2028 and 2031, an additional 500 megawatts of capacity will be added; the subsequent goal is to achieve a total capacity of more than 1 gigawatt at the site, with the specific timeline not yet announced.

Brookfield estimates that including semiconductor equipment procurement, the total investment in the project may exceed 20 billion pounds (26.8 billion US dollars); the initial investment for the first phase of the project is 2.5 billion pounds.

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