CPP Investments & Goodman launch A$14bn DC Partnership
Key points
- Establish A$14bn European data centre partnership
- Initial A$3.9bn capital commitment to develop 435MW of primary power
- Across key Tier 1 markets of Frankfurt, Amsterdam and Paris
Full summary
Canada Pension Plan Investment Board (CPP Investments) has signed an agreement to establish a A$14 billion (€8 billion) European data centre partnership with Goodman Group (ASX: GMG). The 50/50 Partnership involves an initial total capital commitment of A$3.9 billion (€2.2 billion) to develop a portfolio of data centre projects in Frankfurt, Amsterdam and Paris. The Goodman European Data Centre Development Partnership (GEDCDP or the Partnership) is CPP Investments' first data centre partnership in Europe, significantly adding to its data centre portfolio. The Partnership's portfolio comprises four projects totalling 435 MW of primary power and 282 MW of IT load - Paris (PAR01 and PAR02), Frankfurt (FRA02) and Amsterdam (AMS01). 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 transaction will settle in phases and is expected to be completed by March 2026 subject to closing conditions.
Guidance
The Partnership involves an initial total capital commitment of A$3.9 billion (€2.2 billion) to develop a portfolio of data centre projects in Frankfurt, Amsterdam and Paris.
Outlook
The Partnership's portfolio comprises four projects totalling 435 MW of primary power and 282 MW of IT load across the key Tier 1 European markets of Paris, Frankfurt and Amsterdam, providing speed to market and delivery certainty to meet the rapidly growing requirement for cloud computing and AI adoption.
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