Canadian entrepreneur Kevin O’Leary plans to develop a $70-billion data centre industrial park near Grande Prairie, Alta.

Dubbed Wonder Valley, the proposed Northwestern Alberta project is designed to be the world’s largest AI data centre. If all goes according to plan, it will be built in the Municipal District of Greenview’s Greenview Industrial Gateway (GIG.)

O’Leary’s company, O’Leary Ventures has partnered with the municipal district of Greenview for the purchase and development of thousands of acres of land for the project, the local government announced in a news release. 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.

The phased development is slated to leverage off-grid natural gas and geothermal power, with an initial US$2-billion investment to produce 1.4 gigawatts of power. If it goes ahead, the project will expand incrementally, eventually delivering 7.5 gigawatts of low-cost power to support hyperscale computing.

“This is more than just an investment in land; it’s an investment in the future of innovation and economic expansion for Canada,” Tyler Olsen, reeve of the Municipal District of Greenview, said in the news release. “We’re excited to take this step forward, creating lasting benefits not only for our municipality but for the surrounding communities, and the country as a whole.”

O’Leary Ventures is a generalist venture-capital investment firm that invests across many industrial sectors. Kevin O’Leary is an outspoken, high-profile entrepreneur who appears on U.S.-based business reality show Shark Tank. He previously appeared as a panelist on Dragon’s Den, a CBC TV show on which the American program is modelled.

“Given existing permits, proximity to stranded sources of natural gas, pipeline infrastructure, water, and a fibre-optic network within just a few kilometres of the Greenview Industrial Gateway, we will be in the ground and up and running sooner than any scale project of its kind,” he said in the news release.

The ambitious proposal has drawn praise from Alberta government officials.

“This is fantastic news for Alberta,” Premier Danielle Smith said in the news release. “Our efforts to attract investment, grow our technology and innovation sector, and leverage our natural and human resources are being noticed. I’m excited to watch this project unfold in the months and years to come.”

Nate Glubish, Alberta’s minister of technology and innovation, highlighted the project’s significance for the province.

“The GIG project is proof that Alberta is a destination of choice for data centres and their corresponding power-generation infrastructure,” Glubish said. “This exciting announcement from O’Leary Ventures demonstrates that the work our government has done over the last nine months to promote Alberta to data centre operators and investors is paying off. Alberta is open for business, and we’re just getting started.”

In an interview with CBC, O’Leary acknowledged that the project faces challenges but expressed confidence in Alberta’s potential. He said observers should be skeptical and “just watch” because the partners will be very transparent as the development proceeds.

“We have many mountains to climb here, but we’re in a competition. … We have to convince the world that Alberta’s the best place to put your data centre for a lot of reasons,” he said. “And if you can find something better? Show it to me.”

O’Leary also touted the proposed project’s long-term economic and environmental benefits, citing plans to incorporate geothermal energy and reduce carbon emissions.

“The GIG’s ideal cold-weather climate, a highly skilled labour force, Alberta’s pro-business policies and attractive tax regime make the GIG the perfect site for this project,” O’Leary said. “Together, these factors create a blueprint for sustainability and success that can be recognized worldwide. This is the Greenview model.”

The project is expected to generate significant job opportunities during its construction and operation, boosting economic growth and tax revenues in Grande Prairie, a secondary real estate market. The partnership also includes plans to engage with First Nations Indigenous communities to create mutually beneficial relationships.

Rendering: O’Leary Ventures