Spain’s Solaria raises €300m to power data centres with solar and battery storage
April 29, 2026 – 8:45 am
The Spanish solar developer Solaria is betting that co-locating renewable generation with battery storage adjacent to data centres is the answer to AI’s power hunger, and investors are oversubscribed at 6.7x.
Europe’s Data Centre Challenge
Europe faces challenges in keeping up with the growing power demands of artificial intelligence (AI), with slow planning systems and long queues for grid connection in countries like the UK, Ireland, and Germany.
Solaria’s Solution
Solaria, a Spanish solar developer listed on the Madrid stock exchange, has raised €299.88 million through a private placement, 6.7 times oversubscribed. The funds will support two key initiatives:
- Accelerating their ‘Powered Land’ data centre platform, providing hyperscalers and colocation operators with renewable-powered sites pre-approved for grid connections.
- Scaling their battery energy storage system (BESS) hybrid program, combining solar farms with wind and storage to ensure reliable, dispatchable power.
Market Signal
The high level of oversubscription indicates that institutional investors are valuing Solaria’s data centre pivot higher than its current generation economics.
Solaria’s Competitive Advantage
- Infrastructure: Solaria operates over 70 solar plants across Spain, Italy, Portugal, and Germany, with a private electrical network of approximately 1,000 kilometres.
- Grid Connection: The company has secured confirmed grid connection capacity for its sites.
- Portfolio: As of November 2025, Solaria had a 3.4 GW portfolio of secured data centre capacity across five countries, with significant concentrations in Italy and Germany.
Notable Deals
The company has signed deals with Merlin Properties, securing 438 MW of data centre capacity backed by long-term solar power purchase agreements (PPAs).