Iberdrola seeks partners to get into data centres business, Expansion reports
MADRID, Sept 17 (Reuters) -Spain's largest power company Iberdrola IBE.MC is seeking partners to start a data centres business, newspaper Expansion reported on Tuesday, citing a company presentation to investors.
The company expects to find the partners and launch by mid-2025 a new unit that would become Europe's largest hub for data processing and artificial intelligence, Expansion said.
An Iberdrola spokesperson confirmed the plan adding that the company would start building the data centres in Spain and later expand elsewhere.
Iberdrola, which would power the data centres, would hold 20% of the new unit while financial partners would own the rest, Expansion said, adding that the business could represent 2 billion euros ($2.23 billion) of investments in a first stage.
The company intends to start with centres with a capacity of 200 megawatts as early as 2030, the spokesperson said.
Cloud computing units of Amazon AMZN.O and Microsoft MSFT.O have recently announced multi-billion investment plans in Spain.
($1 = 0.8986 euros)
Reporting by Natalia Siniawski, editing by Inti Landauro, Kirsten Donovan
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