Spanish oil firm Repsol intends to allocate 4 billion euros (approximately $4.2 billion) towards the development of data centres, as reported by Expansion newspaper on Monday, referencing unnamed sources familiar with the situation.
According to the report, the proposed data centres will be situated near Zaragoza, a city in northern Spain.
A representative from Repsol has not yet provided a comment regarding this initiative.
The Zaragoza region is poised to emerge as a significant cloud computing centre, with major technology companies like Amazon and Microsoft already committing substantial investments in the vicinity.