Blackstone to invest $8.2 billion in data centres in northeastern Spain

Signage is seen outside the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon/File Photo

MADRID (Reuters) - Blackstone, the world's largest alternative asset manager, plans to invest 7.5 billion euros ($8.2 billion) to develop data centres in Spain's Aragon, boosting the region's growing status as a major cloud computing hub in Europe.

The U.S. private equity fund will follow tech giants such as Microsoft and Amazon in choosing the regional capital Zaragoza in northeastern Spain, where so far 19 data centres projects have been submitted to local authorities for approval, a spokesperson for the Aragon's regional government said on Tuesday.