Canada Pension Plan Investment Board (CPP Investments) and Goodman Group have agreed to establish a partnership focused on developing data centres across Europe, with a planned investment totalling A$14bn ($9.3bn).

The two entities will each contribute equally to the Goodman European Data Centre Development Partnership (GEDCDP).

An initial capital commitment of A$3.9bn will support the development of data centre projects in Frankfurt, Amsterdam, and Paris.

The GEDCDP is said to represent CPP’s first dedicated data centre partnership in Europe and enables it to expand its presence in the digital infrastructure sector.

The planned portfolio consists of four projects, delivering a combined primary power capacity of 435MW and 282MW of IT load, with locations identified as PAR01 and PAR02 in Paris, FRA02 in Frankfurt, and AMS01 in Amsterdam.

Each site has secured power connections, relevant planning permits and progressed infrastructure works.

Construction across these sites is scheduled to begin by 30 June 2026.

CPP Investments real assets global head and senior managing director Max Biagosch said: “We are pleased to expand our longstanding partnership with Goodman Group and establish a strong European foothold in the data centre sector across key Tier 1 markets, aligned with our global data centre strategy.

“By combining Goodman’s extensive development capabilities and powered landbank, with our global expertise in digital infrastructure investments, this partnership allows us to capitalise on a compelling growth opportunity for the long-term benefit of CPP contributors and beneficiaries.”

Since 2009, CPP Investments and Goodman Group have collaborated on multiple projects in regions including Australia, Asia, The Americas, and Europe.

The GEDCDP follows similar initiatives, including the Goodman Hong Kong Data Centre Partnership and other data centre ventures in Japan and Europe.

Completion of the transaction will occur in stages, with all phases expected to conclude by March 2026, subject to closing conditions.

Goodman Group CEO Greg Goodman said: “A portfolio of this size and quality – located in Europe’s Frankfurt, London, Amsterdam, and Paris (FLAP) markets – is rare. These powered locations are highly sought after to meet the rapidly growing requirement for cloud computing and AI adoption, particularly when they offer speed to market and delivery certainty. 

“The quality and scale of this partnership make it ideal for our long-term relationship with CPP Investments. We’re pleased to be investing alongside them for their entry into the European data centre market.”