ACS and BlackRock’s GIP to Develop Data Centres Worldwide

ACS Group and Global Infrastructure Partners (GIP), part of BlackRock, form a 50–50 joint venture agreement to develop and operate next‑generation data centres across global markets.

The platform brings together ACS’s engineering and technology capability with GIP’s investment expertise. The goal is to deliver large-scale sites for hyperscalers, AI companies and enterprise customers that need rapid deployment, energy integration and sustainable design.

ACS and GIP launch global platform

The platform launches with ACS’s portfolio of 1.7GW of projects under development in Europe, the US and Australia. The transaction values these assets at approximately €2 (US$2.14bn) on a 100% basis. 

The agreement includes a cash payment of roughly €1bn (US$1.16bn) and an initial earn‑out of up to €1bn (US$1.16bn), linked to commercial milestones. A further earn‑out of up to €200m (US$232.5m) may be available on pipeline projects still being assessed. ACS also reviews more than 11GW of potential developments across North America, Europe and Asia Pacific that may expand the platform.

Juan Santamaría, ACS Group CEO, says: “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.”

Data centre scale supported by lifecycle integration

The joint venture is set up to deliver end‑to‑end capability, which covers land acquisition, permitting, design, build and operations. 

This structure reflects ACS’s model for large digital infrastructure projects, developed through subsidiaries such as Turner Construction Company, Dornan Group and Leighton Asia.

ACS has already delivered more than 5.5GW of data centre capacity, giving the platform an operational base for global expansion.

The new structure also positions ACS Digital & Energy as a stronger contributor to the Group’s strategy. This division focuses on data centre investment and integrated energy solutions.

Its role includes grid interconnection, renewable power sourcing and advanced cooling integration across the portfolio. These elements align with sustainability requirements in data centre growth markets, where energy efficiency and emissions reduction are core procurement criteria for hyperscalers.

The platform’s design approach uses modular and scalable configurations to help clients adjust to power density growth driven by AI and cloud workloads. The capability to deploy at speed is central to the offer, as demand for high capacity sites continues to rise in established and emerging regions.

Adebayo Ogunlesi, GIP Chairman and CEO, says: “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.”

A growing role in global digital infrastructure

GIP’s involvement strengthens the financial base of the new platform and enables larger multi‑region projects. 

The investor already owns and operates complex digital infrastructure assets and the joint venture gives its clients access to new data centre developments positioned to benefit from the digitalisation of the global economy.

For ACS, the agreement supports its aim to reinforce leadership in digital infrastructure, a growth area shaped by AI adoption and cloud expansion. 

Market demand for high density power, resilient architecture and renewable integration continues to rise and the partnership gives ACS a route to scale its pipeline with long‑term investment support.

The joint venture is subject to regulatory approvals, which is standard for transactions of this type. 

Once approved, it will establish one of the largest development platforms focused on hyperscale and AI‑ready data centres, backed by combined engineering, financial and energy integration capability.