US Reit gets go-ahead for €400m Dublin data centre
A MAJOR stock market-listed US real estate investment trust, CyrusOne, has been granted planning permission for a massive €400m data centre in Dublin.
It will be the Dallas-based company's first data centre project in Ireland and will significantly boost its global data centre footprint.
Nasdaq-listed CyrusOne, with a $6.6bn (€7.5bn) market capitalisation, currently has more than 40 data centres across the United States, Germany, the UK and Asia.
The planned Dublin data centre will extend over 32,419 sq m (349,000 sq ft) and be separated into two adjoining blocks. It will represent about an 8pc increase in CyrusOne's current 400,000 sq m of total rentable data centre space.
The data centre will be built at the Grange Castle business park in the capital, where Microsoft and Google already have similar large-scale facilities.
The project is expected to involve up to 250 building personnel during its roughly 18-month construction period.
The Reit is planning to build the two-storey data centre and associated office block on a 9.2-hectare site.
That includes a 6.3-hectare site owned by South Dublin County Council within the Grange Castle Business Park, and an adjoining 2.9 hectares that form the plots of three residential properties that will be demolished to make way for the development.
The project will also include the construction of a new electricity substation and the installation of 32 back-up generators.
The data centre is expected to consume 56.5MW of power when operational.
CyrusOne joins a data centre surge in Ireland that has seen giants such as Amazon, Microsoft, Google and Facebook invest billions of euro in such facilities here in the past number of years.
CyrusOne was founded in 2001 and is the third-largest data centre provider in the United States.
CEO Gary Wojtaszek told CNBC this week that the data-centre industry continues to deliver robust growth.
"Our customers, which are predominantly Fortune 1,000 customers, are deployed everywhere globally," he said. "So if you really want to be helpful to the customers' needs, you have to have a global platform and if you don't you're really in an inferior position.
"We look at all the success we've had in the States over the last decade and we feel really comfortable that we'll be able to export that same success internationally," he added.