Blackstone will invest US$8.2 billion in data centers in northeastern Spain

Blackstone will invest US$8.2 billion in data centers in northeastern Spain

blackstonethe world’s largest alternative asset manager, plans to invest 7.5 billion euros ($8.2 billion) in the development of data centers in Aragon, northeast of Spainthus boosting the region’s growing status as one of the leading cloud computing centers in Europe.

The venture capital fund United States will follow technology giants like Microsoft and amazon who have also chosen the capital of the region, Saragossawhere 19 data center projects have so far been submitted to local authorities for approval, a spokesperson for the Regional Government of Aragon.

blackstone will develop the buildings by installing cooling machines and cable connections with the aim of renting them to companies that will install computer servers. A company spokesperson confirmed the planned investment.

The Government of Aragon said in June that the technology giant Microsoft planned an investment of 6.69 billion euros (US$7.51 billion) in data centers in the region and the cloud computing unit of amazonAWS, said in May that it would invest 15.7 billion euros ($1,904.8 million) to build its own data centers there.

amazon said it would power its data centers with renewable energy. Aragon has a large wind energy capacity.