According to documents cited by Reuters, in addition to an initial €7.5 billion investment over nine years announced in 2024, the world’s largest alternative asset manager, Blackstone, plans a second phase to expand capacity at the same site depending on customer demand.
The second phase is expected to take seven years to complete, the company said.
Blackstone is following tech giants like Microsoft and Amazon in selecting the northeastern region, which currently has around 20 data center projects under consideration.
The first phase will begin in the second quarter of 2026 and will include eight data centers, a power substation, a photovoltaic solar power plant, and grid connections.
The company also stated it has signed renewable energy supply contracts to cover all its needs, and its cooling systems will not use water—a scarce resource in Spain.
With a potential total investment approaching €12 billion across both phases, this development would become one of the largest data center projects in Europe, highlighting the growing demand for cloud computing infrastructure as digital transformation accelerates across industries.
