Logos of Neom and FAS Energy
The General Authority for Competition (GAC) gave the green light for a joint venture (JV) between NEOM Co. and FAS Energy Co. to develop, own and operate the next generation of sustainable ultra-large-scale data centers in NEOM, Saudi Press Agency reported
The JV will provide data center operating services, GAC stated, adding that it determined the geographical scope of the transaction in the local market.
The authority studied the market of building and operating data centers to determine whether there are concerns about the competition.
In its study, the authority expected that there would be no concerns affecting competition in the Kingdom, as the deal parties do not have any shares in the data center market. This means that the introduction of a new facility to this market will boost competition in the market.
GAC further stated that the JV will localize data, as well as accelerate and develop data centers in the Kingdom, which will lead to achieving the goals of Vision 2030, through allowing the local data centers to cross the 1,300 megawatts (MW) level before 2030.
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