Blackstone proposes 'hyperscale' data centre in northern England [Yahoo! Finance]
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG)
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Source: Yahoo! Finance
centre in northern England, according to documents published by a local council on Monday. The world's largest commercial landlord has proposed building the major data centre on a derelict site in Blyth, Northumberland, that had previously been earmarked for a major electric vehicle battery factory, the documents show. Previous plans for the site fell through when UK startup Britishvolt collapsed last year, in a blow to the country's hopes of building a home-grown battery industry. Power-hungry data centres have proved a rare bright spot for commercial landlords like Blackstone, as investors have been roiled by tumbling prices of other assets such as emptying post-pandemic offices. Blackstone's project could lead to investment of up to 10 billion pounds ($12.5 billion) and create hundreds of jobs, the council document said. Northumberland County Council will vote on Blackstone's proposal on April 23, which would entail the local authority amending an existing buyback agreeme
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