Here’s the translation into American English:
Colliers warns of energy and labor challenges as regions like Aragón, Catalonia, and Extremadura position themselves as new digital hubs
The data center market in the Iberian Peninsula is in full swing. According to the latest Data Centers Snapshot report from Colliers, covering the period from September 2024 to March 2025, the pipeline of new projects has grown by 20% in just six months, reflecting the strong dynamism of a sector that reached record investment figures in 2024, exceeding 1 billion euros.
Among the most notable transactions of the year are the acquisition of Nabiax by Aermont Capital, valued at around 1 billion euros, and the purchase of Adam Ecotech by CVC DIF. This is in addition to the increasing involvement of funds like Bain Capital and Templus, which showcase the investment interest in an asset that is gaining maturity and attractiveness across the Iberian territory.
Beyond Madrid: Barcelona, Aragón, and Emerging New Hubs
While Madrid maintains a stable total capacity of 792 MW IT, Barcelona has experienced a significant boost. The Catalan capital has seen a 38% growth in its pipeline, reaching 275 MW IT thanks to projects from Submer, Panattoni, AQ Compute, and new expansions from Merlin Properties. Additionally, the Catalan government has announced a strategic framework to facilitate the establishment of data centers, aiming to consolidate the city as the “digital port of the Mediterranean.”
Meanwhile, Aragón is positioning itself as the region with the greatest growth potential, with 1,877 MW IT planned for the next decade. Companies like AWS, Microsoft, Azora, QTS, and Box2Bit have already announced multimillion-dollar investments. Institutional support through initiatives like PIGAs (Projects of General Autonomous Interest) is proving key to attract operators and drive this new generation of tech campuses.
Energy and AI Drive Development
Colliers warns that electricity supply has become the major bottleneck for the development of new centers, particularly in saturated areas like Madrid and Barcelona. Limitations in the grid, distribution delays, and a lack of substations are prompting the search for alternative locations such as Valencia, Cantabria, Extremadura, or Castilla-La Mancha.
At the same time, the rise of artificial intelligence is transforming the technical requirements of the sector. Data centers specialized in AI may require densities of up to 120 kW per rack, multiplying the current average by five or more. This increase necessitates rethinking cooling models and poses risks of technological obsolescence in facilities that are still under development.
Outlook: More Investment, More Challenges
Looking ahead to the coming years, the report estimates that cumulative investment in Spain will exceed 8 billion euros by 2026. However, the pace will depend on three key factors: the approval of the new five-year Redeia Plan, the adoption of AI technologies that allow for greater energy and operational efficiency, and the availability of skilled labor, especially outside major urban centers.
“As the market matures, yields should align more closely with those of the major European hubs like FLAP (Frankfurt, London, Amsterdam, and Paris), reflecting greater confidence and stability,” notes José María Guilleuma, Director of Data Centers at Colliers.
For his part, Gonzalo Martín, Director of Capital Markets, highlights that investors are seeking to enter the value chain earlier: “In 2025, we will see more greenfield transactions, both in retail and colocation, anticipating returns in an increasingly competitive market.”
Conclusion: A Strategic Market in Full Transformation
The ecosystem of data centers in Spain is not only growing in volume but is also diversifying geographically and becoming more sophisticated. With a pipeline already exceeding 5,800 MW IT projected for the future, the Iberian Peninsula is consolidating as one of the most promising enclaves in Europe for digital infrastructure. However, that growth will only be sustainable if accompanied by energy planning, technological innovation, and human talent.
The future is already under construction. And data centers, now more than ever, will be its backbone.