U.S. investment fund Davidson Kempner has partnered with U.K. investment firm Pioneer Point Partners to jointly invest up to €3.5 billion ($4.2 billion) in a data center project in Portugal, according to Reuters.
The companies will fund a large-scale data center campus located in Sines, Portugal, 150 kilometers (93 miles) south of Lisbon. The five-building campus, appropriately named Sines 4.0, will have the capacity to supply up to 450 megawatts of cheap energy from renewable sources.
The companies said Sines 4.0 will be one of the largest data center campus projects in Europe, and Prime Minister Antonio Costa dubbed the project “the largest foreign direct investment in Portugal in recent decades.”
