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New Zealand-based Infratil saw its shares reach a record high after its associate, CDC Data Centres, secured a major 555-megawatt contract with a U.S. client. The deal has taken CDC’s total contracted capacity beyond one gigawatt, reflecting strong global demand for data infrastructure. The long-term agreement and planned capacity rollout over the next few years highlight growing investment in Australasia’s data centre market, supported by renewable energy access and stable conditions.
New Zealand-based Infratil reported that CDC Data Centres has secured a 555-megawatt data centre contract with a U.S.-based client, taking its total contracted capacity to over one gigawatt. The development pushed Infratil’s shares up sharply, marking a new all-time high. Advertisement
Infratil, which holds a 49.7 percent stake in CDC’s parent company, CDC Group Holdings, benefits directly from the expansion of CDC’s operations across Australia and New Zealand. The company’s stock rose 10.7 percent to NZD 14.22, recording its strongest single-day gain since late 2020.
The agreement with the U.S. client is structured as a long-term contract spanning 30 years, with an option to extend for an additional 20 years. The capacity under this deal will be delivered through CDC’s campuses that are currently under development and are expected to become operational in the financial years FY28 and FY29.
Chief executive Jason Boyes stated that the announcement highlighted Australasia’s growing potential to attract global computing demand, supported by regional stability, competitive construction costs, and access to renewable energy sources. His remarks reflect a broader trend where hyperscale data centre operators are expanding in regions offering reliable infrastructure and sustainable energy.
Brokerage firm Citi revised its outlook on Infratil, raising the stock’s price target to NZD 15.70 from NZD 14.20 while maintaining a buy rating. The firm indicated that higher valuations for CDC could positively impact Infratil’s overall net asset value. It also noted that similar companies, including Goodman Group, may see positive sentiment due to increased investor focus on data centre assets.
CDC has also outlined its future investment plans, stating that it expects capital expenditure between AUD 3.8 billion and AUD 4.2 billion in fiscal 2027. This spending will be driven by ongoing construction to meet rising demand for data centre capacity, particularly from global technology clients expanding their digital infrastructure.
The deal adds to CDC’s existing pipeline and reinforces its position as a key data centre operator in the region. In recent years, the company has steadily expanded its footprint to support cloud computing, artificial intelligence workloads, and enterprise data storage needs, which continue to grow across global markets.
Source Reuters
5th Jun, 2025
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