Meta rents Spanish real estate company Merlin's data centres

Meta Data Centres: The parent organisation of Facebook, Meta Platforms, has rented Spanish real estate firm Merlin Properties' data centres, newspaper Cinco Dias reported on Wednesday, citing unidentified sources in the technology sector.

Merlin mainly owns and rents offices, shopping malls and logistics centres, but last year the real estate player started a new data centres business, following the big artificial intelligence (AI) push in data warehousing.

In November last year, the company informed that it had invested 246 million euros ($266.42 million) on data centres and was planning a further capital expenditure of 146 million euros between last year's fourth quarter and 2024.

Spain is a good location for data centres thanks to the underwater cable connecting Europe with the other continents.

Additionally, clients demand green energy sources to power the centres and dozens of energy projects are currently in development in the country.

(With Reuter Inputs)