Investment manager Azora is launching a new European Edge data center platform.
The company, in collaboration with Core Capital, this week launched Quetta Data Centers. The company plans to invest more than €500 million ($538.5m) in constructing six Edge data centers in Spain and Portugal totaling 60MW of capacity.
Details were sparse, but Azora said the six assets are predominately located in Madrid, Barcelona, and Lisbon.
Quetta has already begun construction of the first data center in Madrid, located in TresCantos, and is in negotiations to complete the acquisition of the land and construct facilities at other locations.
Azora said the facilities will utilize renewable energy and operate with a PUE below 1.15.
Santiago Olivares, partner in charge of energy, infrastructure, and sustainability investments at Azora, said: "The launch of Quetta is part of our strategy of investing in sustainable infrastructure. The digitalization of the economy offers very attractive investment opportunities in the data centers sector, especially those aimed at companies that offer streaming content, gaming, augmented reality, Internet of things, and other technologies such as artificial intelligence that will experience strong growth as the speed at which society and business consume data accelerates.”
Paco González, founding partner of Core Capital, has been appointed CEO of Quetta. He said: "Quetta Data Centers seamlessly complements the current offerings in the Data Center market, addressing the demand for proximity with interconnected geographical coverage, low latency, and 100 percent green solutions. This creates synergies with existing market operators, both retail and hyperscalers, leveraging the excellent conditions of the Iberian Peninsula.”
Founded in 2003, Azora has €9.7 billion in assets under management; investments span residential, commercial, and hospitality real estate as well as energy infrastructure. Core Capital specializes in the design, creation, and management of technology investment vehicles.
Azora’s Olivares continued: “This investment marks our first entry into the Iberian data centers market, an asset class in which we hold a strong conviction and utilizes our deep expertise in both the local real estate market and in developing and owning operationally intensive assets."
