Brookfield is targeting a large artificial intelligence data center at the Drax Power Station estate in North Yorkshire, as Europe seeks to build infrastructure for AI amid high energy and land costs. Drax Group said Tuesday it had signed an agreement with Brookfield and its neocloud platform, Radiant, to jointly develop the project. Drax shares rose 8.2% in early morning trading.
The first phase aims to provide up to 100 megawatts of capacity from the first quarter of 2028. A further 500 MW is planned to come online between 2028 and 2031. The partners are also seeking to secure more than 1 gigawatt of capacity at the site, though no date was specified for that target.
Brookfield estimates the total investment, including semiconductors, could exceed £20 billion ($26.8 billion). The initial investment for the first phase is expected to be £2.5 billion.
Sources: CNBC Markets.