The European Commission has approved the creation of a joint venture between ACS, Telefónica, Banco Santander, and the Spanish Company for Technological Transformation (SETT), representing the Spanish government. This business union aims to secure the construction of an artificial intelligence (AI) gigafactory in Móra la Nova, located in the Ribera d’Ebre region.
According to an official statement, the notified operation "does not raise competition concerns," as each company's market position resulting from the transaction is limited. The new entity will be eligible to participate in the EU's AI Gigafactories Initiative, which plans to establish up to seven large-scale facilities across different member states.
Last July, the European Commission opened the call for funds for these AI gigafactories, a bid that includes a joint project also involving proposals from Madrid and collaboration with Portugal. Brussels anticipates concluding the selection process on November 12, with the winners expected to be announced in early 2027.
