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Reflections from Datacloud Global Congress 2026

11 June 2026

High-tech bright data center with computers and lights.

We've just returned from Datacloud Global Congress 2026. And one thing is clear:

Data centres are not just a real estate play anymore. They are the physical backbone of the next century.

Every AI model, every cloud service, every real-time financial transaction runs through one. Demand is not cyclical, it is structural. AI workloads are pushing energy consumption to a scale the grid was never designed for. A single hyperscale facility now draws as much power as 100,000 households, and the race to build, finance and operate data centres at scale has become one of the defining economic contests of our time.

The stakes extend well beyond compute. Reliable and predictable power has become the scarcest resource in digital infrastructure. In core European markets, grid connection queues now span up to seven years, pushing developers to build their own generation capacity on-site. Add data sovereignty pressures, tightening security requirements, and energy transition mandates, and what was once a simple asset class becomes a deeply regulated, capital-intensive, geopolitically strategic infrastructure play. Speed to power remains absolutely key. New developments with a pre-2030 connection date are in short supply and attract a lot of interest, with companies now seriously exploring onsite power generation and/or private wire as an alternative means to bring forward projects.

These are not buildings. They are extraordinarily complex projects, and their viability depends on getting every layer right: acquiring and structuring the real estate, securing power and energy agreements, navigating an ever-evolving regulatory landscape, negotiating leases, arranging the financing, managing construction, operating the asset, and accessing capital markets through securitisation.

Financing these assets is a journey of its own: from the first construction facility through to long-term debt and, increasingly, capital markets solutions. Our forthcoming integration significantly strengthens our securitisation capabilities, positioning us to advise clients at every stage of that journey, in a space we see growing fast.

We can service the whole life cycle of data centres all the way through to structured finance. We would be delighted to advise you in this space, across sectors and jurisdictions. Please reach out to any of the contacts listed here and we would be happy to help!

Authored by Romain Marchand and Sian Howes.