Iberdrola, Echelon form landmark joint venture develop renewable-powered data centers
(MENAFN) Spanish energy giant Iberdrola and Irish tech firm Echelon Data Centers have announced a landmark joint venture aimed at developing renewable-powered data centers. The companies revealed the agreement on Monday, calling it the largest of its kind between an energy provider and a data infrastructure developer.
Under the terms of the deal, Iberdrola will hold a 20% stake in the venture through its subsidiary CPD4Green, while the remaining 80% will be controlled by Echelon, which operates under Starwood Capital Group. Echelon will lead the initiative in terms of development, design, marketing, and daily operations.
The first project planned under this collaboration is the “Madrid Sur” data center complex, which will span 160,000 square meters and offer a processing capacity of 144 megawatts (MW). The facility, already approved for a 230 MW grid connection, is scheduled to begin operations before 2030. It is expected to generate around 1,500 jobs.
With an anticipated annual electricity demand of 1 terawatt-hour (TWh), the Madrid Sur site will rely primarily on an on-site solar photovoltaic plant, complemented by additional renewable energy supplied by Iberdrola.
David Mesonero Molina, Iberdrola’s corporate development director, said the partnership aligns with the company's strategy to promote data center growth powered by clean energy. “It allows us to utilize our connected sites and ensure reliable, sustainable, and cost-effective energy supply around the clock,” he said.
Echelon’s Chief Investment Officer, David Smith, highlighted the strategic value of expanding into Spain, citing the country's competitive renewable energy pricing and strong construction capabilities as key advantages for clients.
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