Investment management company Blackstone is planning a data centre construction building in Spain in a region striving to become a major cloud computing hub.
Taking place in Aragon, $5 billion is being invested in the region as part of Blackstone’s second phase of the project. As reported by Reuters, documents filed with the regional government showed that, in addition to the original 2024 €7.5 billion ($8.75 billion) investment that was pledged over nine years, this second investment plans to add capacity at the same site, depending on demand from customers.
Blackstone has shared that this second phase will take seven years to complete, with the first phase commencing in the second quarter of 2026. The plan consists of eight data centres, an electricity substation, a photovoltaic power plant and connections to the grid.
The company has also shared that it has signed renewable electricity supply contracts for all its needs and its cooling systems won’t use water – something that has been the subject of much debate in the data centre industry recently.
It follows other technology giants that are also investing in the northeastern region of Spain, with roughly 20 data centre projects currently being evaluated. Companies like Microsoft for instance have already invested heavily in Spain to build data centres, pledging $7.1 billion to support digital initiatives across the country.
Aragon is considered a prime location for data centre investment on account of its low population density and strong infrastructure development. For data centres, its sunny and windy climate is also useful, given the opportunity of renewable energy.
RELATED STORIES
Blackstone and Aligned Data Centres boost financing partnership beyond $1bn
