Export Development Canada provided between $100 million and $200 million in project financing for the gas-fired plant that will power Meta's data centre in Sturgeon County, Alta., Canada's National Observer has discovered.
The federal Crown corporation, which is backstopped by Canadian taxpayers, lent the money on July 2 – the same day that Pembina, Morgan Stanley Infrastructure Partners and Kineticor Asset Management reached a final investment decision on the $4.6-billion project. Its involvement has not been previously reported and was not publicly announced.
Just in case anyone was wondering whether any level of government was looking out for our interests on this. Obviously the provincial government isn't, either.