A $70 billion AI data centre industrial park is being proposed for northwestern Alberta, with a well-known Canadian investor attached to the project.
On Monday, the Municipal District of Greenview announced it had signed a letter of intent with Shark Tank investor Kevin O’Leary Ventures to purchase and develop thousands of acres of land within the Greenview Industrial Gateway (GIG) just south of Grande Prairie.
If the mega industrial park is built, it will be considered the largest of its kind in the world.
O’Leary Ventures
Wonder Valley, which is planned to roll out in multiple phases, would include building off-grid natural gas and geothermal power infrastructure to support the behemoth AI data centre industrial park.
A seemingly AI-generated video promoting the project was posted on the O’Leary Ventures website. It depicts hyper-futuristic buildings set in a valley where “technology and nature come together in perfect harmony.”
O’Leary Ventures
O’Leary Ventures
O’Leary Ventures, chaired by Canadian multi-millionaire and former Dragons’ Den investor Kevin O’Leary, claims the area’s cold-weather climate, skilled labour force, and Alberta’s pro-business policies make the GIG an “ideal site” for the project.
O’Leary Ventures
“My joint venture team, led by Paul Palandjian, CEO of O’Leary Ventures, and Carl Agren, CEO of HPC and AI Data Centres, has sourced what we believe is the most compelling site in North America to generate and offer 7.5 gigawatts of low-cost power to hyperscalers over the next 5-10 years,” said O’Leary.
“With existing permits, proximity to stranded natural gas, pipeline infrastructure, water, and a fibre optic network just a few kilometres away, we will be in the ground and up and running sooner than any scale project of its kind.”
O’Leary Ventures
O’Leary Ventures
The project’s first phase, producing 1.4 gigawatts of power, is projected to cost $2 billion, with annual expansions of 1 gigawatt increments. The total investment, including infrastructure and ancillary structures, is expected to exceed $70 billion over its lifetime.
“This is fantastic news for Alberta. Our efforts to attract investment, grow our technology and innovation sector, and leverage our natural and human resources are being noticed. I’m excited to watch this project unfold in the months and years to come,” said Premier Danielle Smith.
Plans also include engaging Indigenous communities to create a mutually beneficial relationship.
The MD of Greenview stated Wonder Valley is expected to attract attention from global investors and industry leaders, setting a “new benchmark” for large-scale data infrastructure projects worldwide.
“Beyond jobs and financial benefits, this venture promises to establish Alberta and Canada as world leaders and as a center of excellence in this emerging industry.”