Energy group explores stake in Telefonica consortium

Telefonica’s state-backed gigafactory consortium could reportedly be subject to fresh investment from Spanish energy company Solaria, as it seeks funds to develop a €4 billion data centre hub in the country. The consortium, led by the operator and construction group ACS, is discussing the equity investment with Solaria as part of the energy group’s push into data centres which has included the establishment of dedicated unit, reported Bloomberg . Set up in 2025, the consortium one of a number competing for one of five gigawatt factory projects the European Union (EU) will award in May. These form part of a wider €200 billion plan to boost AI development and triple processing capacity over the next five-to-seven years in the bloc. In addition to EU funding, member states are able to allocate cash from designated budgets to support initiatives. The gigafactories themselves will be funded through a combination of grants and equity. Bloomberg noted Spain has made securing one of the projects a priority, with it represented in the consortium by state-owned investment company SETT. The planned site in Spain could be worth around €4 billion, added sources, launching with an initial capacity of 150 megawatts and plans to scale up to one gigawatt over time. The post Energy group explores stake in Telefonica consortium appeared first on Mobile World Live .