McCourt Global and O’Leary Ventures to accelerate the development of the proposed Wonder Valley AI data centre industrial park in the Greenview Industrial Gateway (GIG) near Grande Prairie, Alta.

McCourt Global, a New York-based private family company founded by Frank McCourt, announced that it is leading the project with a $100-million investment, bringing its expertise in large-scale infrastructure and real estate development to the initiative. The company will work alongside O’Leary Ventures, led by Canadian entrepreneur Kevin O’Leary, the company’s chairman, to position Wonder Valley as a global hub for AI-driven technology.

“Partnering with McCourt Global is a milestone for Wonder Valley and a testament to the shared vision we have for transformative projects,” said O’Leary, spearheaded the Wonder Valley concept.

“Their expertise in large-scale infrastructure and development will mitigate execution risk and help us accelerate our project timeline and ultimately our speed to market. This project will position Alberta and Canada as a global leader in the AI revolution.”

The Wonder Valley project aims to deliver 7.5 gigawatts of low-cost power over multiple phases, catering to the increasing demand for AI data processing. The partnership seeks to optimize capital formation, project execution, and ensure long-term economic benefits for Alberta and the rest of Canada.

“We share Kevin’s forward-thinking vision and are eager to collaborate by leveraging our unique expertise in infrastructure, technology, and real estate development to help build a global centre of technological excellence in Alberta,” said Frank McCourt.

Paul Palandjian, CEO of O’Leary Ventures, also highlighted the importance of McCourt’s involvement.

“Frank McCourt is a titan of industry and a real estate legend. We are thrilled to have him on board, shoulder to shoulder with us as we assemble an A-team for the project,” said Palandjian. “His commitment to the project validates our macro thesis that these lands offer an unparalleled opportunity to offer off-grid, clean, low-cost energy to innovative tech companies at a massive scale.”

The project is still in its early stages, but the two partners will engage with local Indigenous communities as development progresses. Both McCourt Global and O’Leary Ventures have committed to innovation, sustainability, and community engagement as they move forward.

O’Leary Ventures has partnered with the local government, the Municipal District of Greenview, for the purchase and development of thousands of acres of land for the project.

The GIG’s location was chosen for its proximity to stranded natural gas, pipeline infrastructure, water resources, and fibre-optic networks, as well as its cold-weather climate, which is advantageous for data centres.

Grande Prairie is a secondary real estate market located in northwestern Alberta.

Rendering: O’Leary Ventures