Blackstone has confirmed details of its £10bn investment into Europe’s largest AI data centre in the North East of England.
Blackstone bought the site, at Cambois in Blyth, after vehicle battery business Britishvolt was placed into receivership. It had been earmarked as a £3.8bn gigafactory for the company.
Earlier this year a pre-planning application was made to Northumberland County Council. The development will comprise up to 10 data centre buildings totalling up to 5.8m sq ft.
Jon Gray, president and chief operating officer at Blackstone, said: “The UK is a top investment market for Blackstone because of its powerful combination of talent and innovation along with a highly transparent legal system. We are making significant commitments to building social housing, facilitating the energy transition, growing life sciences companies and developing critical infrastructure needed to fuel the digital economy. This includes a projected £10bn investment to build one of Europe’s largest hyperscale data centres supporting 4,000 jobs. Blackstone is committed to Britain.”
Prime minister Keir Starmer added: “The number one mission of my government is to grow our economy, so that hard-working British people reap the benefits – and more foreign investment is a crucial part of that plan.
“New investment such as the one we have announced with Blackstone today is a huge vote of confidence in the UK and it proves that Britain is back as a major player on the global stage and we’re open for business.”
Photo by Manuel Geissinger from Pexels
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