ACS Group and Global Infrastructure Partners (part of BlackRock) have announced a major joint venture that will create a global data center development and operations platform anchored by an initial 1.7 gigawatts of capacity. The 50-50 partnership combines ACS’s advanced engineering and construction capabilities with GIP’s global investment expertise to meet the rapidly increasing demand for large-scale, sustainable digital infrastructure.
The venture will build and operate next-generation data centers for hyperscalers, AI companies, and enterprises across key global markets. The platform leverages a combination of end-to-end delivery capabilities across ACS subsidiaries, integrated energy solutions tailored for high-density computing, modular and scalable design frameworks, and a sustainability-focused approach incorporating energy efficiency and renewable power sourcing.
Upon closing, the platform will include ACS’s current 1.7 GW development portfolio spread across Europe, the United States, and Australia. These assets carry an enterprise valuation of approximately €2.0 billion on a 100 percent basis, including €1.0 billion in upfront cash consideration and an additional €1.0 billion in earn-outs tied to commercial milestones. A further earn-out of up to €200 million may be realized from additional projects under evaluation. ACS is also reviewing an 11 GW pipeline across North America, Europe, and the Asia Pacific for possible contribution to future platform expansion.
The partnership strengthens ACS’s position as a major player in digital infrastructure, a sector increasingly driven by the growth of AI acceleration and cloud computing. Through Turner Construction Company, Leighton Asia, and the recently acquired Dornan Group, ACS has completed more than 5.5 GW of data center capacity for global technology clients. The venture will also enhance ACS Digital & Energy, the Group’s investment arm responsible for data center and energy-related development initiatives.
For GIP, the platform expands its presence in digital infrastructure, adding large-scale assets that align with the global shift toward data-intensive services. The firm manages and operates complex infrastructure portfolios and sees the new platform as a strategic path to support growing AI and cloud deployment needs.
The agreement remains subject to required regulatory approvals.
KEY QUOTES
“This agreement is a decisive step in our strategy to lead the digital infrastructure sector globally. By joining forces with GIP, we are combining ACS’s development, engineering, and construction expertise with the deep investment capacity and industry experience of one of the world’s leading infrastructure investors. Together, we are uniquely positioned to meet the surging demand for AI and cloud computing with comprehensive, sustainable solutions.”
Juan Santamaría, Chief Executive Officer, ACS Group
“As AI continues to reshape many sectors of the global economy, today’s announcement will allow us to continue to support innovation at scale. GIP has a longstanding and deep relationship with ACS and together we are committed to building the infrastructure required for the growth of cloud and AI investment and support transformative growth.”
Bayo Ogunlesi, Chairman and Chief Executive Officer, Global Infrastructure Partners
