Blackstone, the world’s largest alternative asset manager, has announced plans to invest €7.5 billion ($8.2 billion) in developing data centers in Aragon, Spain. This move positions the region as a rising European hub for cloud computing.
The Spain data center colocation market is expected to reach $690 Million by 2029, rising at a CAGR of 8.2 percent, from $430 million in 2023.
The U.S. private equity firm will establish the infrastructure in Zaragoza, Aragon’s capital, following in the footsteps of tech giants like Microsoft and Amazon. So far, 19 data center projects have been submitted for approval in the region.
Blackstone’s project will focus on constructing facilities equipped with cooling systems and network connectivity. These facilities will then be leased to companies needing server installations. A Blackstone spokesperson confirmed the investment.
Microsoft is planning €6.69 billion investment in Spain.
Amazon has revealed €15.7 billion investments in Aragon.
Amazon Web Services (AWS) also plans to power its data centers with renewable energy, leveraging the region’s abundant wind power resources.
