Headlines
Blackstone plans $5 billion expansion of Spanish data centre project
Published by Global Banking & Finance Review®
Posted on August 27, 2025
2 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on August 27, 2025
2 min readLast updated: January 22, 2026
Blackstone plans a $5 billion expansion of its data centers in Aragon, Spain, aiming to enhance the region's cloud computing infrastructure with a focus on sustainability.
MADRID (Reuters) -U.S. asset manager Blackstone is looking to expand its planned project to build data centres in Spain's Aragon, with an additional investment of 4.3 billion euros ($5.03 billion) in the region striving to become a major cloud computing hub.
Documents filed with the regional government showed that aside from an initial investment of 7.5 billion euros over nine years, that was disclosed in 2024, the world's largest alternative asset manager plans a second phase to add capacity at the same site, depending on demand from customers.
That second phase would take seven years to be completed, the company said.
Blackstone follows tech giants such as Microsoft and Amazon in choosing the northeastern region, which has around 20 data centre projects under evaluation.
The first phase would start in the second quarter of 2026, the document said. It would comprise eight data centres, an electricity substation, a photovoltaic power plant and connections to the grid.
The company said it had signed renewable electricity supply contracts for all its needs and its cooling systems will not use water, a commodity that is often in short supply in Spain.
($1 = 0.8542 euros)
(Reporting by Inti Landauro, editing by Andrei Khalip and Louise Heavens)
A data centre is a facility used to house computer systems and associated components, such as telecommunications and storage systems. They are essential for managing and storing large amounts of data.
Cloud computing is the delivery of computing services over the internet, allowing users to access and store data and applications on remote servers instead of local computers.
Sustainability in investment refers to the practice of considering environmental, social, and governance (ESG) factors when making investment decisions to promote long-term growth and ethical practices.
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