Data centres need massive amounts of reliable electricity and automation, creating opportunities for Canadian infrastructure companies beyond just tech stocks. Brookfield Renewable Partners owns a large portfolio of hydro, wind, solar, and storage assets, and has signed major power purchase agreements with Microsoft and Alphabet to supply clean energy for data centres. Its first-quarter funds from operations rose 15% year over year, showing strong demand for low-carbon power. ATS designs automation systems for energy and industrial sectors, and its Q4 energy revenue more than doubled, partly due to nuclear projects. While ATS is a more indirect play on data centre growth, its backlog of about $2 billion provides visibility into fiscal 2027. Both stocks offer exposure to the physical infrastructure needed to support AI and digital expansion, though investors should weigh ATS's lower direct exposure and recent order declines.
