ACS is joined by Global Infrastructure Partners to launch a global data center development platform with initial 1.7 GW portfolio

Madrid and New York – November 14, 2025 – ACS Group and Global Infrastructure Partners (GIP), a part of BlackRock, have entered into an agreement to form a 50-50 joint venture dedicated to developing and operating next-generation data centers worldwide.

The new platform combines ACS’s advanced global technology capabilities and industrial expertise with GIP’s investment leadership to deliver end-to-end, global solutions for hyperscalers, AI companies and enterprises seeking rapid, scalable, and sustainable data centers. Backed by the full suite of capabilities across the data center lifecycle provided by ACS Group companies, the new platform will offer a comprehensive value proposition, including:

• End-to-end delivery: From land acquisition and permitting to design, construction, and operations.
• Integrated energy solutions: Including grid interconnection, renewable energy sourcing, and advanced cooling.
• Modular, scalable design: Enabling rapid deployment and flexibility for evolving client needs.
• Sustainability leadership: Prioritizing energy efficiency, green energy, and reduced environmental impact.

Upon closing, the new data center development platform will consist of ACS’s existing 1.7 GW portfolio of data center assets under development across Europe, the United States, and Australia. The transaction values these assets (on 100% basis) at approximately EUR 2.0 billion, consisting of a cash payment of approximately EUR 1.0 billion, plus initial earn-outs of up to EUR 1.0 billion, contingent on achieving predefined commercial milestones. An additional earn-out of up to EUR 200 million may also be earned from additional pipeline projects currently under analysis. In addition to the existing portfolio of assets contributed by ACS to the platform, ACS is reviewing a pipeline of potential projects exceeding 11 GW across North America, Europe, and Asia Pacific.

ACS Group Chief Executive Officer Juan Santamaría said: “This agreement is a decisive step in our strategy to lead the digital infrastructure sector globally. By joining forces with GIP, we are combining ACS’s development, engineering, and construction expertise with the deep investment capacity and industry experience of one of the world’s leading infrastructure investors. Together, we are uniquely positioned to meet the surging demand for AI and cloud computing with comprehensive, sustainable solutions.”

GIP Chairman and Chief Executive Officer Bayo Ogunlesi said: “As AI continues to reshape many sectors of the global economy, today’s announcement will allow us to continue to support innovation at scale. GIP has a longstanding and deep relationship with ACS and together we are committed to building the infrastructure required for the growth of cloud and AI investment and support transformative growth.”

The partnership cements ACS’s position as a global leader in digital infrastructure, a sector driven by AI and cloud innovation and a strategic focus area for the Group. ACS has a proven track record of delivering large-scale projects for global technology clients, having constructed more than 5.5 GW of data center capacity through its subsidiaries, including Turner Construction Company (and its recently acquired division Dornan Group) and Leighton Asia. It also strengthens ACS Digital & Energy, ACS’s investment arm focused on the development of data centers and its associated energy solutions.

GIP is a leading infrastructure investor that invests in, owns, and operates some of the largest and most complex digital infrastructure assets in the world. The partnership enables GIP to expand its presence in the rapidly growing data center sector, providing its clients access to premier infrastructure assets poised to benefit from the digitalization of the global economy.

As customary for similar transactions, the agreement is subject to obtaining all the relevant regulatory approvals.