The Spanish company Solaria Energía y Medio Ambiente sealed a strategic agreement with the Government of Uruguay to develop a 500 MW data center technology complex, accompanied by 350 MW of photovoltaic solar generation , through an estimated investment of 5.7 billion dollars , considered the largest in the country's history.
The agreement was signed on October 14 by President Yamandú Orsi and representatives of the Spanish multinational. The initiative will be implemented in two phases, under the free trade zone regime, and will include facilities distributed among the departments of Canelones, San José, and Florida.
Of the announced disbursement, $5.5 billion will be allocated to data center infrastructure , while the remaining $200 million will finance the solar parks that will supply renewable energy to the technology complex.
In addition, the operation includes a power purchase agreement (PPA) of up to 40 years with the National Administration of Power Plants and Electrical Transmissions (UTE) , along with the connection of the development to the Uruguayan 500 kilovolt electrical grid.
These components were confirmed by Solaria through an official communication submitted to the National Securities Market Commission (CNMV) of Spain , in which the company specified that it will assume the development and operation of the free zone, the infrastructure and the services intended for future technology operators.
During the presentation, Orsi described the agreement as "a signal from Uruguay to the world" and highlighted the country's institutional stability, energy infrastructure, and conditions for attracting large-scale investments.
The president maintained that the project is the result of a sustained development process and affirmed that "development is throughout the territory or it is not," referring to the territorial distribution of the facilities and their economic effects.
500 MW of data centers and 350 MW of solar power: this is how the megaproject will be executed
The timeline includes a first phase with the installation of 200 MW of data center capacity and 350 MW of photovoltaic generation . This stage will be developed primarily in Canelones and Florida, respectively, and is projected to be completed by 2029 or 2030.
Subsequently, a second phase will incorporate an additional 300 MW of digital infrastructure , located in San José. This expansion will allow the project to reach the planned 500 MW, while the possibility of increasing the initially announced solar power is also being considered.
The Minister of Industry, Energy and Mining, Fernanda Cardona , stated that the development will continue during the next administrations and emphasized its character as a "national project" , both for its economic dimension and for the associated employment and infrastructure opportunities.
In energy matters, one of the central aspects will be the coordination between the new photovoltaic installations and the national transmission system.
According to the documentation submitted by Solaria to the Spanish regulator, the company will be responsible for connecting the technology campus to the 500 kV transmission network , a relevant component for integrating high electricity consumption facilities.
Furthermore, the PPA with UTE, which can last up to 40 years, will be linked to the solar power plants' production. At this time, the agreed prices, specific commercial terms, and committed annual energy volumes have not been publicly disclosed.
The addition of 350 MW of photovoltaic capacity will represent a significant expansion of renewable energy capacity linked to the technological infrastructure. However, this capacity does not guarantee a continuous solar supply of the 500 MW planned for the data centers, due to the variability of generation.
Consequently, electrical integration and 24-hour power supply availability will be crucial for the complex's operation. No details have been provided regarding potential energy storage or backup systems.
The initiative is part of Uruguay's strategy to leverage its electricity generation matrix, characterized by a high participation of renewable sources, as an advantage to attract technological investments.
Orsi highlighted that the country has infrastructure conditions developed over the last few decades, in addition to extensive fiber optic coverage and international connections via submarine cables.
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In that regard, the president referred to "positive accumulation" to describe the capacity-building process that, according to the government, facilitated the arrival of this investment.
In addition to technological and energy development, the investment is expected to have an impact on the labor market. During the first phase, the project anticipates the creation of 3,100 construction jobs , of which 2,400 will be related to data centers and 700 to photovoltaic installations.
Once the complex is completed, official projections estimate 1,500 permanent jobs , mainly related to information technology, digital infrastructure operation, maintenance and energy services.
Cardona highlighted that the initiative will allow the development of "a value chain, a work chain and a knowledge chain," through the participation of supplier companies, technicians and professionals from different specialties.
The minister also noted that the project constitutes a long-term commitment, with impacts that will extend beyond the current government period and will require coordination between public bodies and private operators.
For Solaria , founded in Spain in 2002, the agreement implies an expansion of its activities towards the development of large-scale digital infrastructure, complementing its traditional business of photovoltaic electricity generation.
The company began operations as a solar module manufacturer and, in 2014, shifted its focus to becoming an independent renewable energy producer. It has been listed on the Spanish stock exchange since 2007 and has been a constituent of the IBEX 35 index since 2020.
Its presence in Uruguay is not new. The multinational has been operating for almost a decade through photovoltaic plants located in Young, in the department of Río Negro, and Mercedes, in Soriano , whose electricity is sold to UTE.
The new agreement therefore represents a leap in scale compared to its current operations, incorporating technological infrastructure, new generation capacity and long-term energy commitments.
In parallel, Uruguay seeks to consolidate its position as a destination for data centers, a segment that already has investments and developments from operators such as Antel and Google.
Cardona points out that the availability of electrical and telecommunications networks is one of the elements that allow the integration of renewable generation, information processing and digital services.
According to the official, this combination will reaffirm Uruguay's position as a regional hub for digital infrastructure and strengthen investment opportunities in sectors associated with innovation.
The agreement also prompted negotiations between Uruguayan authorities and the Spanish company. According to information released by the government, the process included official missions, technical meetings, and the participation of state agencies related to energy, the economy, and infrastructure.
The actors involved include the Ministry of Industry, Energy and Mining, UTE and other government agencies that participated in structuring the project.
However, the $5.7 billion investment corresponds to the amount announced for development , the realization of which will depend on the fulfillment of the different stages of execution.
The final construction schedules, the specific operating conditions of the data centers, and any additional energy infrastructure requirements that may arise during implementation are still pending.
With this agreement, Uruguay incorporates one of the largest technological and energy projects announced in Latin America , while Solaria advances in a strategy that links renewable generation, electrical infrastructure and data centers through long-term contracts.