American investment giant Blackstone has unveiled a groundbreaking €7.5 billion investment to build a large-scale data centre in Calatorao, a municipality in Zaragoza, Aragon. This investment, known as the Rodes Project, represents Blackstone’s largest data centre initiative in Europe and is expected to create 1,400 direct jobs in the first phase of construction.
The announcement was made by the President of Aragon, Jorge Azcón, during a press conference held in October 2024 at the Moncloa Palace. Azcón hailed the investment as a “historic announcement” for the region, stating, “Blackstone has certainly seen the immense potential that Aragon offers, and this project is one of the most important investments in Spain and Europe.”
The data centre will be developed on a 224-hectare site near Calatorao, strategically located next to the A-2 motorway and within the influence zone of several nearby towns. The project is expected to have a significant economic impact, contributing between €16.5 billion and €25.45 billion to Aragon’s GDP over the next 25 years.
Blackstone’s subsidiary, QTS Data Centers, will manage the facility. QTS, which operates more than 30 data centres in the US, is making its debut in Spain with this project, adding to its existing European operations in the Netherlands and the United Kingdom.
Aragon has rapidly emerged as a hub for data centres in Spain. Earlier in May, Amazon announced a €15.7 billion investment to expand its three data centres in the region, creating 6,800 jobs over the next decade. With Blackstone’s announcement, Aragon is positioning itself as the “Virginia of Southern Europe,” referring to the US state known for its data centre capacity.
President Azcón echoed this sentiment, stating that Aragon is becoming an attractive destination for international tech giants due to its “privileged geographical location, industrial land availability, and clean energy capacity.”
The Spanish real estate sector has also been increasingly focused on data centres, with large infrastructure funds and investors like Blackstone driving growth in this sector. A Deloitte report forecasts that Spain will double its data centre capacity by 2026, with total investments reaching €2.5 billion.
In addition to the direct employment opportunities, the project is expected to bring further economic benefits to the surrounding areas. The first phase of the data centre will generate 1,400 direct jobs, with more to come as the project develops.
