Investor Outlook: Meta deal positions Alberta as AI infrastructure hub

Bloomberg07-10 00:54

Meta’s first Canadian data centre marks a significant step in Canada’s effort to attract AI infrastructure, with Alberta’s electricity system emerging as a key competitive advantage. The project also ...

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The project also reflects growing investment in large-scale digital infrastructure as demand for computing power accelerates.BNN Bloomberg spoke with Avik Dey, president and CEO of Capital Power Corporation, about the company’s long-term energy supply agreement with Meta, Alberta’s ability to support growing electricity demand, and why reliable power is becoming a deciding factor for future AI investments.Key TakeawaysMeta’s first Canadian data centre will be supplied through a long-term 250-megawatt energy agreement backed by Capital Power’s Alberta generation portfolio. Alberta’s combination of dispatchable natural gas generation and renewable energy is being positioned as a competitive advantage for attracting AI infrastructure. The project is expected to generate significant investment and thousands of construction jobs as Canada’s AI infrastructure expands. Capital Power says Alberta’s market-based electricity system can continue adding new generation as demand from large industrial users grows. The agreement could serve as a blueprint for future partnerships between technology companies and electricity providers seeking reliable, scalable power. Avik Dey, president & CEO of Capital Power Avik Dey, president & CEO of Capital Power Read the full transcript below:LINDSAY: Capital Power Corporation has announced a long-term energy supply agreement with Meta as the tech giant moves forward with plans to build its first Canadian data centre in Sturgeon County, Alberta. The deal will provide 250 megawatts of power, and Meta will be investing $10 billion into that centre. Joining us now is Capital Power president and CEO Avik Dey. It’s great to have you join us. Thanks for taking the time.AVIK: Good morning, Lindsay. Great to be here.LINDSAY: So, I guess first of all, tell us what exactly this agreement with Meta will entail and why it is significant for both Capital Power and Alberta as well.AVIK: Thank you, Lindsay. Firstly, I’m just incredibly proud of our team at Capital Power and the courage and creativity that they’ve shown over the last three years to help bring this project to fruition. Capital Power has entered a 250-megawatt, 10-plus-year long-term energy supply contract with Meta, facilitating their energy purchase and their build of an up-to-1,800-megawatt data centre here in Alberta. I think it’s an incredible moment for the industry, and it’s also Meta’s largest data centre outside of the U.S. So it’s an incredibly proud moment for us to be bringing the industry here to Canada and planting the flag for the Canadian industry here.LINDSAY: Now, this data centre is expected to come online in 2028, so not too long from now. I wonder what kind of economic impact it’s going to provide when you’re talking about jobs, investment, local development, those sorts of things.AVIK: Well, we’re entering a new phase for the country in terms of building infrastructure, and this is a $13-billion project that is going to bring thousands of jobs to Alberta to help build and construct a massive facility, and all of the infrastructure to support it. But most importantly, as the AI race takes off globally and we look for compute capacity in places outside of the U.S., Canada is establishing itself as a country, and Alberta as a province, where we can build major infrastructure that can support it.LINDSAY: What’s the makeup of the power mix that will supply this data centre? Is it all natural gas? Is there some renewable? What’s the makeup?AVIK: Well, the wonderful thing about the Alberta power market is we lead the country in terms of renewable penetration, but most importantly, we have reliable and dispatchable natural gas supporting our grid. Natural gas makes up the majority of our power supply in the province, and as a result, we’ve got reliable, dispatchable, affordable power that will allow for new load, large loads, to enter into the province to support their energy demand.LINDSAY: So does that mean that this data centre will be powered entirely by natural gas?AVIK: It does not. Meta is entering the province, building a data centre and connecting to our grid, which is reliable and affordable. So it’s not physically being supplied by a single source. That’s being supplied by the power in Alberta, by the market in Alberta.LINDSAY: Okay. Are you getting any incentives from the Alberta government when it comes to paying for this?AVIK: We are not.LINDSAY: So, obviously, with data centres right now, the conversation is starting to roll out that there’s pushback from some communities that don’t want data centres in their communities. Have you received any pushback so far? Or have you heard anything from the community where this is going to be?AVIK: This is the point that I’m actually most proud of here in Alberta and Canada. This is a new project for the province. This is a first of its kind for Meta and for Canada to be introducing a large data centre here. And, as was mentioned yesterday at the press conference, all stakeholders were at the table. I’m incredibly proud of the province, the federal government and local stakeholders, who all catalyzed to bring a new large infrastructure project together and in co-operation with each other. It’s an incredibly proud moment for industry, for the province and for the country in that regard.LINDSAY: Just before we wrap up, how confident are you that Alberta’s grid will be able to keep pace with demand while maintaining reliability here?AVIK: Incredibly confident. Our province in Alberta, as an energy-only market, which is largely an unregulated market, for over 20 years has supported a reliable and affordable grid on the back of its supply-and-demand fundamentals. It’s a market-based system, and we’ve proven time and time again with increasing demand, we can bring new generation to bear to support that growing demand, and we can do it through private capital.LINDSAY: Okay, we’ve got to leave it there. Capital Power president and CEO Avik Dey joining us live. Appreciate your time. Thanks so much.---This BNN Bloomberg summary and transcript of the July 9, 2026 interview with Avik Dey are published with the assistance of AI. Original research, interview questions and added context was created by BNN Bloomberg journalists. An editor also reviewed this material before it was published to ensure its accuracy and adherence with BNN Bloomberg editorial policies and standards.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.45.2","shortVersion":"4.45.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2650976086","isCrawlerRequest":true}