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Goodman Group has signed a AUD 14 billion, or USD 9.32 billion, partnership with Canada Pension Plan Investment Board to develop data centres in Europe. Structured as a 50:50 venture, the platform will initially commit AUD 3.9 billion to four projects in Frankfurt, Amsterdam and Paris, offering a combined 435 MW of power capacity. The projects are development-ready and expected to commence construction by 30 June 2026. The phased transaction is expected to close by March 2026, boosting Goodman's growing global data centre strategy.
Australian data centre developer Goodman Group has entered into a major partnership with Canada Pension Plan Investment Board (CPPIB) to develop large-scale data centre assets across key European markets. The agreement involves the creation of a joint venture valued at AUD 14 billion, equivalent to about USD 9.32 billion, marking CPPIB's first dedicated data centre investment platform in Europe. Advertisement
Following the announcement, Goodman Group's shares rose sharply, climbing nearly 8% to AUD 31.48 and reaching their highest level since early November. The stock emerged as the top performer on the S&P/ASX 200 index, reflecting strong investor confidence in the group's expanding digital infrastructure strategy.
The partnership has been structured as a 50:50 venture, with an initial capital commitment of AUD 3.9 billion. The joint platform will focus on four data centre developments located in Frankfurt, Amsterdam and Paris. Together, these projects will offer 435 megawatts of primary power capacity and 282 megawatts of IT load, which represents the power available directly to servers and computing equipment.
The companies indicated that the projects are positioned for quick execution, supported by secured power connections, approved planning permissions and advanced site infrastructure works. These conditions are expected to allow construction activity to begin by 30 June 2026, providing faster delivery timelines compared to many competing developments in the region.
The transaction is planned to be executed in phases and is expected to close by March 2026, subject to customary approvals. This phased approach is intended to align capital deployment with project milestones and development progress.
Goodman has been steadily building its data centre portfolio as part of a broader shift towards logistics and digital infrastructure assets. At the beginning of the year, the company outlined plans to scale up its data centre operations and raised around AUD 4 billion in February to support these growth initiatives.
This agreement also represents Goodman's second cross-border partnership during the year. Earlier in the past few months, the Sydney-based group announced a USD 2.7 billion investment consortium with global pension funds and institutional investors to develop data centre platforms across Hong Kong, underlining its focus on international expansion.
Source Reuters
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