Spanish Oil Giant Repsol Plans €4 Billion Data Center Investment
Zaragoza, Spain - Repsol, Spain's leading oil and gas company, has announced plans to invest €4 billion (approximately $4.2 billion) in data center development, according to sources cited by Expansion newspaper.
The data centers will be strategically located near the city of Zaragoza, a region that has emerged as a key hub for cloud computing in Spain. Industry giants Amazon and Microsoft have already invested heavily in the area, solidifying its position as a data center destination.
Repsol's investment marks its entry into the rapidly growing data center market, driven by the increasing demand for cloud services and digital infrastructure. The company aims to capitalize on Zaragoza's favorable conditions, which include access to renewable energy sources, skilled workforce, and proximity to key European markets.
Despite the announcement, a Repsol spokesperson declined to comment. The company is expected to provide further details regarding the investment and data center development plans in the coming weeks.