Infrastructure investment firm Asterion Industrial Partners announced on Friday its entry into the data center market in Portugal with the purchase of the Covilhä Data Center Campus from Altice Portugal for €120 million.
The entity explained through a press release that the operation, which was structured as a sale of a non-strategic asset, was carried out through the “Asterion Infrastructure Fund III”, whose closing was announced at 3.4 billion euros last September.
Likewise, it has been described that the Covilha Data Center currently has 6.8 MW of installed capacity and a modular design that allows for significant expansion, while it can add up to an additional 75 MW through new units integrated into the existing campus and also has access to approximately 175 MW on adjacent land that already has a secure electricity supply.
The centre, located 200 km from Porto and 220 km from Lisbon, can serve the Portuguese market, including hyper-scalers, European operators in the field of artificial intelligence that require high-performance computing infrastructures.
At a broader level, it has been determined that Altice Portugal – the country’s main telecommunications operator – will remain the main customer of the Covilha hub under a long-term framework contract for services, which, in the manager’s opinion, strengthens the strategic alliance that provides continuity and visibility for both parties.
For the investment company, the Portuguese market that it has just entered has many advantages such as competitive energy prices, strong terrestrial connectivity and a favorable regulatory environment.
“Portugal also stands out as one of the most advanced fiber markets in Europe and benefits from a flexible energy system, supported by significant investments in renewable energy generation,” they added.
The transaction, subject to relevant regulatory approvals, is scheduled to close in the first quarter of 2026, while Asterion has relied on the legal advice of Clifford Chance and Maurice Littau, as well as EY for financial and tax advice.
This is Asterion’s second operation in the data center space after selling Nabiax last year, the platform in Spain that the company has developed with Telefónica since 2019.