Iberdrola, Echelon Form JV to Develop Data Centers in Spain (1)

Spanish power giant Iberdrola SA is forming a joint venture with Echelon Data Centres to build and operate data centers in Spain, gaining a foothold in the capital-intensive and energy-hungry sector in its home market.

Echelon — backed by US private equity firm Starwood Capital Group LLC — will own 80% of the new company, while Iberdrola’s CPD4Green unit will hold the rest, according to an emailed statement Monday. Iberdrola will guarantee a constant supply of electricity to the new facilities and pinpoint land already connected to the power grid where centers can be built. The statement confirmed an earlier ...