Brookfield Asset Management and the Qatar Investment Authority have agreed to invest £2.5 billion ($3.4 billion) in a data center project with UK power generator Drax Group Plc, according to a statement issued Tuesday.
The first phase could be operational by the first quarter of 2028 and is expected to produce up to 100 megawatts. It would use an existing grid connection at Drax’s power station in northern England.
Later phases would draw power directly from Drax’s biomass generators, which have a combined capacity of 2.6 gigawatts. Brookfield and QIA would provide the initial investment.
Sources: Bloomberg Markets.