Global Infrastructure Partners (GIP), part of BlackRock, is joining up with Spanish developer ACS Group to build and operate next-generation data centres globally.
The joint venture will target hyperscalers, AI companies and firms “seeking rapid, scalable and sustainable data centres”, according to a joint announcement.
The platform will be seeded with ACS’s existing 1.7GW portfolio of data centres under development across Europe, the US and Australia.
The investment by GIP values the portfolio at approximately €2bn, consisting of a cash payment of approximately €1bn, plus initial earn-outs of up to €1bn, contingent on achieving predefined commercial milestones. An additional earn-out of up to €200m may also be earned from additional pipeline projects currently under analysis, the partners said.
ACS is also reviewing a pipeline of potential projects of more than 11GW across North America, Europe and Asia-Pacific.
ACS group CEO Juan Santamaría said: “This agreement is a decisive step in our strategy to lead the digital infrastructure sector globally. By joining forces with GIP, we are combining ACS’s development, engineering, and construction expertise with the deep investment capacity and industry experience of one of the world’s leading infrastructure investors. Together, we are uniquely positioned to meet the surging demand for AI and cloud computing with comprehensive, sustainable solutions.”
GIP chairman and CEO Bayo Ogunlesi said: “As AI continues to reshape many sectors of the global economy, today’s announcement will allow us to continue to support innovation at scale. GIP has a longstanding and deep relationship with ACS and together we are committed to building the infrastructure required for the growth of cloud and AI investment and support transformative growth.”
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