Thor Equities Group has launched a specialized data center division, thor Digital, with a contract to acquire and develop a €600 million ($634 million) data center facility in Madrid, Madrid One.
The sustainability-led, 200,000-square-meter campus offers Phase 1 committed power of up to 20MW IT load, growing to over 100MW. Madrid One will be one of the region’s largest data center campuses with committed power, the company said.
The project is at an advanced stage of design and permitting with construction planned to start later this year.
“Thor’s decision to enter the data center asset class is consistent with our forward-looking approach and strategy to acquire and develop high quality assets globally, beginning with Madrid One,” said Joseph Sitt, chairman of Thor Equities Group. “As Thor’s first project in the sector, this development is representative of our commitment to building a wide-ranging portfolio in Europe and will allow us to enhance our capabilities as a developer and manager.”
Thor has appointed industry expert Roy Gibbens to lead Thor Digital and oversee expansion into new and emerging markets, with primary responsibility across EMEA. He previously served on the board of Ark Data Centres as executive director of sales and marketing. Before joining Ark, he served as European sales director for Digital Realty Inc; during this period, Roy developed the European market for the U.S.-based REIT, working with clients across multiple verticals in the data center space.
