Europe: Goodman Group boasts of 4GW power bank

Feb 17, 2024 | Posted by Abdul-Rahman Oladimeji

Real estate company Goodman Group has claimed that it has the power capacity available to develop a portfolio of data centers worth $80bn over the next five to seven years. The company noted that it has  added 300MW to its "power bank" since November 2023, bringing its total availability to 4GW.

Its earnings presentation revealed, "Note that a significant volume of our directly owned sites have potential for redevelopment [as data centers], and therefore a potentially greater portion of the development activity could be originated on the group’s balance sheet in the future. This would mean that a greater portion of the return achieved, through sales, can generate operating profit as opposed to valuation gains."

Greg Goodman added, "Our growth in data center capacity underscores our ability to deliver digital infrastructure, where we’re securing power on our sites and developing data centers in cities with high demand."