Solaria logra la mayor inversión extranjera de la historia de Uruguay

Uruguay has experienced its largest foreign investment to date, as the country is set to host a massive 500-megawatt data processing center developed by the Spanish renewable energy group Solaria. President Yamandú Orsi announced the deal on Thursday with great fanfare, signing an agreement that will bring $5.7 billion (€5.08 billion) into the South American nation. The investment is observed as the highest foreign investment in Uruguay's history.

Solaria will be involved in the project alongside the Uruguayan state-owned electric company, Administración Nacional de Usinas y Trasmisiones Eléctricas. The macroproject, operated under a free zone regime, will allocate $5.5 billion (€4.9 billion) to construct data centers with a capacity of 500 megawatts (MW), and an additional $200 million (€178 million) for installing 350 MW of solar photovoltaic generation to power the complex with renewable energy.

The project will be carried out in two phases, spread across the departments of Canelones, San José, and Florida. It is expected to generate 3,100 jobs during the construction phase, lasting until 2029, and around 1,500 permanent jobs once the park reaches full performance. Uruguay's President framed the operation as a signal to the world, asserting the country as a destination with clear and respected rules.

He credited the achievement to a positive accumulation of state policies maintained over the years by different governments, highlighting macroeconomic and legal stability, alongside a nearly 100% renewable energy matrix, a strategic factor that increasingly determines international investors' decisions.

This deal consolidates Solaria's presence in Uruguay, which has been operating solar plants in Young (Río Negro) and Mercedes (Soriano) for nearly a decade. The Uruguayan government emphasized that this project combines the nation's bet on technological innovation, local talent retention, and the development of a digital economy linked to environmental care.

Solaria will act as the developer and operator of the free zone, providing the land, infrastructure, and services necessary for its activity, subject to the necessary authorizations. The electric company will purchase the energy produced through a power purchase agreement (PPA) lasting up to 40 years. The energy firm has signaled that this project expands its business model by developing and operating free zones and digital infrastructures, complementing its renewable energy generation activities with new opportunities.