Iberdrola Seeks AI Data Center Stake in Spain Joint Venture
- Partnership will start operating in home country, may expand
- Utility has locked in up to 200 MW of connection to the grid
The joint venture is expected to be set up in the first half of 2025.
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Iberdrola SA plans to provide a Spanish data center with a grid connection and renewable power in exchange for up to 20% of the facility, which will cost as much as €2 billion to build.
Europe’s top clean energy generator is in advanced talks with developers to provide land connected to the grid for the joint venture, but no cash, while its partner would make the investment to build the center and operate it, according to people with knowledge of the matter, who asked not to be named because the information isn’t public.