ACS, BlackRock’s GIP to form global data centre JV

Core Insights - ACS Group and Global Infrastructure Partners (GIP) have established a 50-50 joint venture to develop and operate data centres globally, starting with a portfolio of 1.7 gigawatts (GW) of assets under development [1][2] - The transaction values the initial portfolio at approximately €2 billion ($2.3 billion), with an upfront cash payment of about €1 billion and potential earn-outs of up to €1 billion based on commercial milestones [2] - The collaboration aims to meet the demands of hyperscale clients and enterprise AI workloads, focusing on rapid deployment and renewable energy sources [4][5] Company Strategy - The joint venture is a strategic move for ACS Group to lead the digital infrastructure sector globally, leveraging its development and engineering expertise alongside GIP's investment capacity [4][5] - ACS Group is currently evaluating a project pipeline exceeding 11 GW across North America, Europe, and Asia Pacific regions, indicating significant growth potential [5][6] Operational Model - The operational model of the joint venture will be based on full-lifecycle project delivery, which includes land acquisition, permitting, design, build, commissioning, and operations, provided by ACS Group subsidiaries [3] - GIP's chairman emphasized the importance of this partnership in supporting innovation and infrastructure growth in the cloud and AI sectors [3]