Iberdrola Seeks Financial Partners for Global Data-Center Hub

Spanish energy group Iberdrola SA is seeking financial partners to develop a global data center portfolio, as artificial intelligence and cloud computing drive future electricity demand.

The company has met with a number of investment funds to replicate a strategy it’s already used in areas like renewable energy and power networks, according to people with knowledge of the matter. Iberdrola hasn’t yet defined what kind of partnership it will pursue for data centers, said the people, asking not to be identified as the plan isn’t yet public.

The Bilbao-based company is Europe’s top clean energy developer and has existing agreements ...