No Power, No AI. Alberta Bets $4.6B

Pembina, Morgan Stanley Infrastructure Partners, and Kineticor approve a $4.6 billion Alberta power project to supply a major data center

28 Jul 2026

Pembina Pipeline, Morgan Stanley Infrastructure Partners and Kineticor have reached a final investment decision on a C$4.6bn power project designed to supply Alberta's expanding data centre industry. The Greenlight Electricity Centre, sanctioned on July 2, will deliver 932MW of dedicated capacity under a long-term electrical energy supply agreement with an unnamed data centre customer.

The agreement underpins the project's financing. Rather than exposing the venture to fluctuating wholesale power prices, the contract fixes revenue over an extended period, a structure investors increasingly favour as computing demand strains regional grids.

Stu Taylor, Pembina's senior vice-president and corporate development officer, said: "We are excited to be partnering with Kineticor and for the opportunity to further extend our value chain to provide power to a promising new Alberta-based data centre industry."

At 932MW, Greenlight ranks among the largest purpose-built power projects for digital infrastructure proposed in Canada. Because artificial intelligence and cloud computing workloads require constant, high-volume electricity, developers have moved away from speculative generation towards contracted supply tied to a single large customer. Greenlight follows that pattern.

The facility is expected to enter service in the second half of 2030, giving its customer several years to plan capacity around a fixed supply date. For Pembina, the deal extends its business beyond pipelines and processing into electricity generation aimed squarely at the data centre sector, a market it has previously flagged as a growth priority.

Kineticor, a private power developer, and Morgan Stanley Infrastructure Partners bring project development and capital respectively, a common structure for large energy assets that require both technical execution and patient financing.

Neither the customer's identity nor detailed project financing terms were disclosed. Alberta's power grid, already under pressure from renewable integration and rising industrial demand, faces additional strain as more data centre operators seek dedicated supply. Provincial regulators have signalled openness to large contracted projects, though transmission capacity and approval timelines remain open questions for developers pursuing similar deals.

Whether Greenlight represents an isolated transaction or the start of a broader wave of contracted power projects in Alberta will depend on how quickly other data centre operators commit to comparable long-term agreements.