New TransAlta CEO Joel Hunter sees 'tremendous opportunity' in data centres amid energy pact. The federal-provincial energy accord has drawn national attention to pipelines, but attracting major investment into the burgeoning AI-focused data centre sector could provide another spark for Alberta's economy in the coming years.
And the new chief executive of Calgary-based power generator TransAlta Corp. sees opportunities ahead for data centres in the province — and views the energy memorandum of understanding (MOU) as 'very positive' — as the province seeks to land its share of a growing pie.
'The MOU between the Alberta government and the federal government certainly, as designed, would encourage investment in new infrastructure for us in Canada, but specifically in Alberta,' said Joel Hunter, who takes over Friday as TransAlta's CEO.
'New generation would be required if you really want to build this industry out, and so with the MOU — and having that policy support — you have that in place where you can build new thermal (power) generation … It certainly sends all the right signals for future capital investment within the province.'
Hunter spent more than 25 years with pipeline giant TC Energy, including a stint as its chief financial officer, before joining TransAlta in 2024 to become its executive vice-president and CFO.
Last November, the company announced CEO John Kousinioris would retire at the end of April and be replaced by Hunter, a chartered financial analyst who holds degrees from the University of Calgary and the University of Regina.
The 59-year-old executive grew up in Moose Jaw, Sask., where he once was a Triple A, under-18 hockey goalie. He worked summer jobs at the Kalium (now Mosaic) potash facility near Belle Plaine, west of Regina.
'At the potash plant, I did everything from working outside to being, I was a pipefitter's helper,' he recalled.
'It was a great experience … and then coming here for school (and) realizing that this is one of the best business climates you can work in, I think anywhere in North America.'
Hunter moved to Calgary to attend university, eventually getting married to wife Shannon — they have three kids — and forging a career in the growing Canadian energy sector.
Don Marchand, former CFO at TC Energy, worked with Hunter for years and said he's a poised business leader who is accustomed to dealing with complex challenges, such as sorting out the financing surrounding TC Energy's US$13-billion acquisition of Columbia Pipeline Group a decade ago.
'He's very battle tested and I've never seen him lose his cool … There's a prairie sensibility to him,' said Marchand.
'Having tried to build pipelines for the past decade under the various administrations, there's not much you can throw at him in terms of degree of difficulty. He's done the double Black Diamond run in the pipelines.'
