Lusa - Business News - Portugal: Pan-European data provider to invest €0,5B over coming years

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Lusa - Business News - Portugal: Pan-European data provider to invest €0,5B over coming years

Lisbon, April.23,2024(Lusa)- AtlasEdge, a pan-European data centre provider, is taking its first step in Portugal with the purchase of two plots of land in Carnaxide, expecting to invest "more than €500 million" in the country over the next few years.
British-based AtlasEdge will build a data centre in Carnaxide, highlighting its location near Carcavelos, the mooring point for several submarine cables, a "highly strategic" location, and within the Lisbon Metropolitan Area, the technology company said in a statement.
"This location allows customers to take advantage of" the submarine cables to "Africa, Latin America and the rest of Europe, making Lisbon a vital centre for international connectivity", AtlasEdge added, highlighting the "thriving technology scene, which is home to some of Europe's fastest growing start-ups and has created a (...) fast-growing market with strong demand for data centre capacity".
AtlasEdge's facilities "will be powered 100% by renewable energy and will have zero water waste", the company added.
"Our entry into the Portuguese market gives us a key position in one of Europe's emerging technology centre markets and a market where demand for capacity is rapidly outstripping supply," says Giuliano Di Vitantonio, AtlasEdge's chief executive officer (CEO), quoted in a statement.
"Strategic investments like this are only possible by leveraging our combined expertise and valuable customer relationships, and that's precisely what we've been doing since we launched AtlasEdge," he continues.
What's more, "the progress we've made so far has been remarkable, and our entry into the Lisbon market represents a continuation of our bold and agile approach," he said.
The market entry announced today "further consolidates AtlasEdge's considerable presence in Europe, which now covers 20 different metropolitan areas in 13 countries," according to the company.
The Mayor of Oeiras, Isaltino Morais, noted that "this is an extremely encouraging development" for the municipality and "is a testament (...) to (...) its growing reputation as a reliable partner for international technology companies".
"The foreign direct investment by the company AtlasEdge (from the UK) in the construction of a data centre in the former SIC studios in Carnaxide, whose launch ceremony is being held today, 23 April, is part of AICEP's efforts to attract more investment in telecommunications infrastructure and data logistics to Portugal, positioning the country as a tech hub in Europe," said Filipe Santos Costa, president of the Portuguese Agency for Investment and Foreign Trade (AICEP), in a statement to Lusa.
The investment "is a cause and effect of Portugal's success in the energy and digital transition. 'Renewable electricity + CLS (Cable Landing Stations) & Data Centres (DC) = Data Economy' is a formula for intensive investments in technology and capital, with more added value in services, generating better jobs, inspiring more qualifications, increasing productivity and paying higher wages," said the president of AICEP.
He said this was "part of a dynamic with investments in transoceanic connectivity (EllaLink, AFR-IX, Google, Meta, among others), the corresponding terrestrial connectivity to the European hinterland (such as Exa infrastructure or Colt Technology Services) and the expansion of Interconnection Centres (such as Equinix) or other data centres (such as Start—Sines Transatlantic Renewable & Technology Campus)."
AICEP "is working to attract foreign investment in the data economy to Portugal, investment leveraged by the national commitment to the dual energy and digital transition" and "investments that catapult us into a new economy with more value creation and better wages for the Portuguese," he concluded.
ALU/ADB // ADB.
Lusa

Agency : LUSA
Date : 2024-04-24 11:16:00

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