During the first nine months of 2024, the data center market in the Iberian Peninsula has experienced notable growth, consolidating its position as a key player in the European digital ecosystem. The figures revealed by Colliers reflect the momentum of investments in critical infrastructure, with a special focus on the Aragon region and the metropolitan areas of Madrid and Barcelona.
Madrid: stability and projected growth
The Community of Madrid, with an installed capacity that has remained at 164 MW IT until the third quarter of 2024, continues to be the heart of the data center market in Spain. Although the lack of electrical supply has delayed some projects, the region is on track to multiply its installed capacity to reach 792 MW IT in the coming years.
Among the most notable projects is the expansion of Nabiax in Alcalá de Henares and Julián Camarillo, with an additional 10 MW, as well as the investment from Oracle, which has announced the creation of its third cloud region in Madrid, with an investment of $1 billion.
There are also smaller data centers from companies like Grupo Aire with OaxisCloud, IPCore, or Hispaweb that have launched their projects in the “Madrid Silicon Valley” area on Calle Albasanz in Madrid. Not to mention initiatives such as the data centers in Toledo, specifically in Talavera de la Reina, where Grupo Aire also has a data center.
Barcelona: accelerated growth
Barcelona has experienced significant growth, increasing its installed capacity by 68%, from 25 MW IT in 2023 to 42 MW IT in September 2024. This momentum has been led by the launch of a data center by Merlin Properties and the opening of Equinix’s second facility in the city.
The future projection is equally promising, with a potential capacity of 200 MW IT in the coming years, driven by investments like CoreWeave’s plan to open a data center in the city as part of a $2 billion European expansion.
Aragon: the “Virginia of Europe”
Aragon is consolidating as a strategic hub for data center development in Europe, with an installed capacity of 108 MW IT and a pipeline reaching 1,800 MW IT. This region has attracted massive investments, highlighting projects from AWS and Microsoft, who have identified Aragon as a key location for developing artificial intelligence infrastructures.
AWS, for example, has announced its fourth data center in Zaragoza, with a projected investment of €15.7 billion by 2033. This commitment to Aragon, along with its ability to produce 13% of Spain’s renewable energy, is positioning the region as the “Virginia of Europe,” in reference to the US state known for being a global hub of data centers.
Portugal: an emerging market
The data center market in Portugal, which had stalled in recent years, has shown signs of revival in 2024. The installed and planned capacity has grown to 146 MW IT, with new investments announced by Equinix and Voltekko. Additionally, the Start Campus in Sines is on track to become one of the largest colocation campuses in Europe, with a projected capacity of 1.2 GW IT in the coming years.
In summary
The data center market in the Iberian Peninsula is expanding, driven by investments in critical infrastructure, the growing demand for artificial intelligence services, and the need for increased processing capacity. With key projects in development in Madrid, Barcelona, and Aragon, the region is well positioned to continue attracting investments and establish itself as a digital hub in Europe.
More information in Colliers’ report.