Mon Sep 16 15:04:58 UTC 2024: ## Iberdrola to Build €2 Billion Data Center in Spain, Securing 20% Stake
**Madrid, Spain** – Spanish energy giant Iberdrola SA is set to invest in a €2 billion data center in Spain, securing a 20% stake in the project in exchange for providing grid connection and renewable energy. The deal signifies Iberdrola’s ambition to become a major player in the fast-growing data center market, fueled by the increasing demand from companies like Microsoft and Meta.
The company is partnering with developers to secure land and provide a 200-megawatt grid connection, powered by renewable sources, including pumped-storage hydropower. Iberdrola plans to add a solar plant later, ensuring uninterrupted energy supply for the facility.
The data center, which will initially be located in Iberdrola’s home market of Bilbao, is expected to be operational by 2030. Iberdrola aims to secure 20% of the Spanish data center market share by this deadline. The project is part of Iberdrola’s larger goal of establishing a global data center portfolio.
The company has created a dedicated unit, CPD4Green, to manage this new business venture. Spain was chosen as the initial market due to its ample land availability, well-developed power network, and substantial renewable energy capacity.
This joint venture highlights the increasing demand for data centers and the shift towards renewable energy sources within the industry. It also emphasizes the strategic partnership model being adopted by energy companies to enter this lucrative sector.
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