Spanish data center firm NxN is expanding its footprint with plans for a new facility in Madrid.

The company is set to launch a facility in the former Banco Popular Headquarters along Abelias Street.

The facility is set to launch in September 2026. Located in Madrid near Juan Carlos I Park, the data center will span 8,500 sqm (91,495 sq ft) and offer 7.5MW of capacity in a 2N design.

NxN said it is investing €20 million ($23.3m) in the project. The facility will use a waterless cooling system.

NxN CEO Javier Salas said: “With this asset, NxN takes a decisive step in its operational entry into Spain, and it does so in Madrid, one of the main digital hubs in southern Europe. We are not simply deploying capacity; we are building critical infrastructure aimed at guaranteeing the highest levels of security and operational continuity.”

Banco Popular was acquired by Santander in 2017. It’s unclear if NxN has acquired the building or is leasing the facility. News that Santander was looking at selling or leasing the building surfaced earlier this year.

The new facility will be the company’s second, following its debut facility in Valencia. The project is part of the company’s investment plan of up to €500 million ($584m) over the next five years in Spain and Portugal, and complements the ongoing development of our first project in Valencia.

NxN was formed in 2023 as a joint venture between Nethits Telecom Group and asset manager Adequita Capital. Infrastructure asset manager InfraRed acquired a majority stake in the company last year.

Construction has commenced at the Valencia facility, which is scheduled to open in 2027. Plans for the facility were first announced in May 2024, and the company received permission for the development last year.

This piece was automatically translated from DCD’s Spanish site and edited by a member of DCD’s editorial staff.