Spanish construction giant ACS and BlackRock’s Global Infrastructure Partners (GIP) have teamed up. They created a new joint venture for data centers. The initial investment totals 2 billion euros (about $2.33 billion). Both companies own a 50% stake in the new platform.
This partnership aims to build a huge portfolio of data centers. They will have an initial capacity of 1.7 gigawatts (GW). The goal is to meet the massive demand for AI and cloud computing infrastructure. ACS already has data center projects across Europe, the U.S., and Australia. These will now move under the new joint venture.
ACS expects a capital gain of 100 million euros from this deal. The companies will jointly invest around 1 billion euros. They also planned for an additional payment of up to 1 billion euros. This extra money depends on the project’s success.
Furthermore, the partners are reviewing plans for over 11 GW of potential data center projects globally. This joint venture signals a big bet on the future of digital infrastructure.
