U.S. asset manager, Blackstone, is set to expand its planned data centre project in Spain’s Aragon with an additional investment of €4.3 billion ($5.03 billion), reinforcing the region’s ambition to become a leading cloud computing hub. The move builds on an earlier €7.5 billion commitment announced in 2024, bringing the total potential investment to nearly €12 billion. According to documents filed with the regional government, the new phase would depend on customer demand and take seven years to complete.
The investment will see the development of large-scale infrastructure, including eight data centres, an electricity substation, and a photovoltaic power plant with grid connections. The first phase of the project is scheduled to begin in the second quarter of 2026, signalling Blackstone’s entry into a highly competitive data centre market that has already attracted global tech giants such as Microsoft and Amazon. Aragon currently has about 20 data centre projects under evaluation, underscoring its rising profile in Europe’s digital economy.
Blackstone also outlined its commitment to sustainability, noting that all electricity for the project will come from renewable sources. The company further disclosed that its cooling systems will not rely on water, a crucial measure in Spain where water shortages are a recurring challenge. This approach aligns with broader European Union goals of promoting environmentally friendly technology investments.
Industry analysts see Blackstone’s expansion as a strategic step to capitalise on Europe’s growing demand for cloud computing and data services. By committing to renewable energy and sustainable cooling systems, the asset manager is positioning itself not only as a major investor in digital infrastructure but also as a responsible player in climate-conscious development. The second phase of the project, if realised, would firmly place Aragon among Europe’s top destinations for data centre operations.