Pembina Pipeline to Build Massive Data Center for Meta in Alberta

Pembina Pipeline is reportedly close to a deal with Meta to build a massive AI data center in Alberta. The project will be in partnership with Kineticor. Pembina's shares rose 6% on the news. The deal is expected to be announced soon.

Pembina Pipeline (NYSE: PBA) saw its shares rise by 6% on Friday following reports that the company is close to finalizing a deal to build a massive AI data center in Alberta for tech giant Meta (META). The project, which is expected to be announced soon, involves a partnership with Kineticor, a provider of power generation facilities, and data center Beacon AI.

The data center, located in Alberta's Industrial Heartland, will be situated near Fort Saskatchewan. This area is known for its concentration of oil refineries, petrochemical plants, and other industrial facilities, as well as its hub for carbon capture and storage technology. This technology could potentially help tech firms reduce AI-related carbon emissions.

Pembina Pipeline will supply natural gas-fired electricity to the project through its Alliance pipeline network, which connects Alberta and northern British Columbia to Chicago. The company has indicated that it is exploring the possibility of expanding the pipeline to feed 350 million cubic feet per day of gas to the Industrial Heartland by 2029 Pembina near deal with Meta to build massive data center in Alberta - report^[1].

The deal, if finalized, would represent a significant expansion for both Pembina Pipeline and Meta. For Pembina, it would mean leveraging its existing infrastructure to support a high-tech, low-carbon initiative, while for Meta, it would provide a robust and sustainable power source for its AI operations.