Saudi Arabian data center firm DataVolt is expanding into Central Asia, developing a 12MW facility in Tashkent, Uzbekistan. The project, named TAS-1, is backed by $150 million in project financing and marks a significant push by Saudi-based digital infrastructure players into emerging markets.
Quick Facts
- Project: 12MW data center in Tashkent.
- Financing: $150 million from international institutions.
- Timeline: Expected to be operational in late 2026.
A Consortium of Global Financiers Backs the Project
DataVolt secured the $150 million financing from a group of international development finance institutions. The funding consortium includes Germany’s Investment and Development Company, the European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development, and French institution Proparco.
Construction on the TAS-1 data center began in May 2024, aligning with Uzbekistan’s strategy to bolster its digital infrastructure and attract foreign investment to meet growing regional demand for cloud and data services.
TAS-1: The First Step in a Larger Ambition
According to Uzbekistan’s Ministry of Digital Technologies, the 12MW facility is just the first phase of a much larger plan. The broader project includes the development of two additional 250MW data centers, with the ministry noting that a foreign partner would invest $5 billion by 2030 to support the build-out.
This positions DataVolt at the center of Uzbekistan’s long-term digital transformation goals, establishing a critical infrastructure footprint in the country.
Telecom Giant Veon Eyes Major Tenancy
Beeline Uzbekistan, a subsidiary of the Dubai-headquartered telecoms company Veon, is positioned to become a major tenant of the TAS-1 data center. The potential tenancy is part of one of two memoranda of understanding signed with DataVolt.
A second memorandum establishes a framework to explore the joint development of another potential data center in Bukhara, a city in central Uzbekistan. These non-binding agreements signal a strong commercial interest and potential long-term partnership between the two companies.
About DataVolt
Founded in 2023, DataVolt is a wholly owned subsidiary of Vision Invest, a prominent Saudi Arabian development and investment holding company focused on critical infrastructure. The company is led by CEO Rajit Nanda, who previously served as the CFO of ACWA Power, a major Saudi developer of power and water plants also owned by Vision Invest. Several members of DataVolt’s leadership team also have roots in ACWA Power.
Source: Entarabi
