Taranis Capital and Emaar Executive Company sign partnership to develop 40-50MW data center campuses in Saudi Arabia

Dubai-based investment firm Taranis Capital signed a Memorandum of Understanding with Emaar Executive Company (EEC) to develop a portfolio of 40–50MW data center campuses in Saudi Arabia, targeting $2 billion in private investment for the development and operation of carrier-neutral data center infrastructure. The facilities will incorporate advanced cooling technologies and Nvidia’s next-generation GPU architectures to support cloud computing, artificial intelligence, and enterprise workloads, with strategically located campuses designed near key connectivity points and subsea cable landing stations. SIPA, the government entity backing the agreement, will assist with regulatory approvals and licensing as part of Saudi Arabia’s Vision 2030 initiative to diversify the economy and establish the kingdom as a technology hub. Nicholas Bingham, CEO of Taranis Capital, highlighted the partnership’s potential to deliver on Saudi Arabia’s data center opportunity, while Milan Radia, partner of data center strategy at Taranis, emphasized the need to build a connectivity ecosystem model similar to successful European models. Karthik Ramaswamy, COO of EEC, noted the company’s decade-long experience delivering complex technology infrastructure projects in Saudi Arabia, including a certified workforce on the ground. The Taranis Data Centre Fund, launched in 2023 and regulated by the Dubai Financial Services Authority, will manage the $2 billion investment across data center infrastructure, biotech, disruptive technology, real estate, and green biotechnology.

Counterparts (3)

Partner

Saudi Investment Promotion Authority (SIPA)

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Saudi government agency promoting investment in Saudi Arabia under Vision 2030, facilitating access to infrastructure projects and diversified sectors including logistics, energy, and technology.

National Bank of Greece

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National Bank of Greece is a leading financial institution in Greece, providing a comprehensive range of banking and financial services. In the infrastructure sector, it primarily acts as a lender, offering project finance, corporate loans, and advisory services to support the development and operation of key infrastructure projects, with a strong focus on the Greek market and renewable energy.

Taranis Capital

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London-based investment and asset management firm focused on energy access, carbon circularity, and nature-based solutions, operating 176 MWp across West Africa and Central Africa with a hands-on development and operational approach.