Forestalia explores data center power asset sale for capital - Bloomberg

Spanish renewable energy producer Forestalia Renovables SA is exploring options to raise capital to develop power plants for data centers, according to Bloomberg, citing people with knowledge of the matter.

Options under consideration include divesting a majority stake in the power assets, as well as selling them entirely and then handling the development and management, the people said. Forestalia has held talks with potential advisers as it works on the plans and it could seek to raise between €150 million ($168 million) and €300 million, the people said.

Projects like these can involve several phases, ranging from securing land rights and grid connection access to delivering the projects once they are built or even managing them after construction. Companies like Forestalia can sell the projects at different stages.

The assets currently under review by Forestalia include land rights and access points for one data center project, and land rights to build power sources for two other data centers. It has already announced that it has contracts to supply electricity to a Spanish company that plans to build data centers in the area.

The review comes as the government works on a new set of rules for data centers that it says are aimed at clamping down on companies that buy land and access points solely as financial investments without any development plans. The new rules could make securing clean-energy supplies even more important for data center developers.