Repsol plans to enter data centre business with project worth around €4,000 million and 400+ MW

Repsol

Renta 4 | According to press reports, Repsol is preparing a new leap in its diversification process, with the entry into the data centre business with a project of just over 400 MW.

The plan is to be developed in Escatrón, Zaragoza, where it will take advantage of the land, electrical installations and water supply it currently has in the area, which now houses a combined cycle power plant it owns. This type of asset, purchased at the time from the Viesgo group, is now being reconverted to add or give it other uses, including renewable energy facilities.

In terms of investment, this would represent around €4,000 million.

Assessment: Positive news that continues to broaden the Company’s investment range and business diversification.

We do not expect any impact on the share price as there is no official confirmation from the Company, with no official amounts, terms or expected returns.

Recommendation to OVERWEIGHT with P.O. €17.8/share.

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