LISBON (Reuters) – U.S. investment fund Davidson Kempner and British investment firm Pioneer Point Partners announced on Friday they will invest together up to 3.5 billion euros ($4.21 billion) by 2025 in a large-scale data centre in Portugal.
The campus in the city of Sines, 150 kilometres south of the capital Lisbon, will include five buildings with a useful capacity to supply up to 450 MW of cheap energy from renewable sources to the servers, the two companies said in a joint statement.
“Sines 4.0 will be one of the largest data centre campus projects in Europe and will address the exploding demand of large international technology companies,” the funds said.
Sines has a strategic position as it is the place from which crucial high-speed trans-Atlantic submarine cables depart to other continents, such as Ellalink, which connects Europe to South America, the funds said.
“Data has been identified as the new ‘oil’ of the digital economy, and Portugal will benefit from this large investment in Sines that will place the country at the core of transatlantic and global data network”, Sam Abboud, founding partner of Pioneer Point Partners said.
(Reporting by Sergio Goncalves; Editing by Inti Landauro and Uttaresh.V)
