A 54-megawatt data centre expansion planned for Cambridge, Ontario just got a $550 million boost in construction funding from Canada Pension Plan Investment Board (CPP Investments) along with Deutsch Bank Private Credit & Infrastructure. Both lenders are splitting the financing equally for this large-scale facility that three global partners are putting together.
“The construction financing of this project marks another milestone in advancing our global data centre strategy and strengthens our presence in the Canadian market,” says Geoffrey Souter, head of real assets credit with CPP Investments.
The project is a partnership between Related Digital, which develops and invests in data centres; Ascent, a company that builds and runs them; and Tower Brook Capital Planners, an investment firm. The expansion space has already been leased long-term to an AI cloud computing provider.
“The rapid expansion of digital infrastructure – driven by accelerating demand for cloud services, data storage, and the transformative potential of artificial intelligence – is fueling strong growth in data centre development,” Souter notes.
