Brookfield, Drax Target 1GW AI Data Centre With £2.5B First Phase
BN sits 16% above its 52-week low of $35.61.
Summary
Brookfield and Drax signed a strategic partnership to develop more than one gigawatt of AI and high-performance computing data centre capacity on the Drax Power Station estate in the UK. Phase 1 of up to 100 megawatts is targeted to be operational from the first quarter of 2028, subject to planning, regulatory approvals and securing a tenant, and Brookfield estimates that phase alone could attract around £2.5bn of investment. The project leans on Drax's four gigawatts of grid access and 2.6 gigawatts of dispatchable generation, with Radiant leading design and commercialisation while Drax handles land, planning and power integration. Beyond the initial build, the partners aim to add a further 500 megawatts between 2028 and 2031. For Brookfield, this is a modest but real addition to its infrastructure pipeline rather than a thesis-changing deal; the market reaction was concentrated in Drax, whose shares rose 8.59% to 878.50p. A planning application for Phase 1 is being prepared, with public consultation expected to begin later in November.
At the time of this announcement, BN was trading at $41.28 on NYSE in the Finance sector, with a market capitalization of approximately $101.7B. The 52-week trading range was $35.61 to $49.57. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ShareCast.