NxN Datacenters invests €20 million to develop its first data center in Madrid, Spain

Spanish data center operator NxN Datacenters committed €20 million ($23.3 million) to develop its first facility in Madrid, marking its operational entry into Spain. The project involves repurposing the former Banco Popular Headquarters on Abelias Street, a 8,500 sqm (91,495 sq ft) site near Juan Carlos I Park, with a 7.5MW capacity in a 2N design. Construction is underway with an expected launch in September 2026, positioning NxN as a key player in Madrid’s digital infrastructure landscape. The investment is part of NxN’s broader €500 million ($584 million) five-year expansion plan across Spain and Portugal, following its debut facility in Valencia. NxN was established in 2023 as a joint venture between Nethits Telecom Group and Adequita Capital, with infrastructure asset manager InfraRed acquiring a majority stake in 2025.

Counterparts (2)

Seller

Santander

company · 4 deals

Banco Santander is a global financial institution offering a range of services including retail banking, corporate and investment banking, asset management, and consumer finance. The company focuses on building lasting loyalty among its shareholders and supporting education, employability, and entrepreneurship.

Developer

NxN Datacenters

company · 1 deals

Madrid-based data center developer and operator focused on AI-ready, hyperconnected, and sustainable facilities in the Iberian Peninsula, with a planned portfolio of up to 10 data centers and €500M investment commitment.