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Cartis diligence evidence schedule

MERLIN Edged Bilbao-Arasur Campus

PRJ-1292 · Site · Ribera Baja, PV, Spain

Record last updated Oct 29, 2026

Scope and capacity

MERLIN’s Bilbao-Arasur campus in Ribera Baja, Álava combines initial operations with later development phases. Its published phase table totals 280 MW of planned IT capacity across 22 MW, 96 MW and 162 MW phases, not current operating load. In July 2026, MERLIN reported initial operating revenue, two future 48 MW buildings pre-let and requests for further building licences. Adjacent solar generation is separate. Waterless cooling and WUE 0.00 are operator claims, not independently measured total-site water use. Parcel title and separate project financing remain unverified.

Headline: 280 MW Planned critical IT

Numbers refer to their stated physical boundaries and are not added together. Source dates, claim dates and record updates have different meanings. Missing dates and locators are not inferred.

Claims and exhibit sources

Jump to a claim (10)

Target IT capacity MW · 280 MW

Planned / design or future potential · MERLIN Edged Bilbao-Arasur Campus (Project)

Claim 160791 · Recorded claim type: Forecast · Review: Approved · Claim date: Not stated

Headline treatment: Selected headline

  1. MERLIN Capital Markets Day, Navalmoral slides 37–39

    MERLIN Properties · Document date: Mar 10, 2026 · Primary

    Source reference: SRC-8120 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.merlinproperties.com/wp-content/uploads/2026/03/CMD-2026-CNMV-1.pdf

Site location · Supermanzana 6, Plataforma Logística Arasur, Avenida Ribera Baja s/n, 01213. BIO-ARA buildings and repowering are a single campus.

Reported rounded · MERLIN Edged Bilbao-Arasur Campus (Project)

Claim 160792 · Recorded claim type: Reported rounded · Review: Approved · Claim date: Not stated

  1. Bilbao-Arasur site identity

    MERLIN Properties · Document date: Not stated · Primary

    Source reference: SRC-8122 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.merlinproperties.com/activos/data-center-bilbao-arasur/

Land and site control context · Exact street/industrial park identity confirmed; legal title not inspected.

Reported rounded · MERLIN Edged Bilbao-Arasur Campus (Project)

Claim 160793 · Recorded claim type: Reported rounded · Review: Approved · Claim date: Not stated

  1. Bilbao-Arasur site identity

    MERLIN Properties · Document date: Not stated · Primary

    Source reference: SRC-8122 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.merlinproperties.com/activos/data-center-bilbao-arasur/

Phase i design IT capacity MW · 22 MW

Design · MERLIN Edged Bilbao-Arasur Campus (Project)

Claim 160794 · Recorded claim type: Design · Review: Approved · Claim date: Not stated

Headline treatment: Separate claim, not added to the headline

  1. MERLIN Capital Markets Day, Navalmoral slides 37–39

    MERLIN Properties · Document date: Mar 10, 2026 · Primary

    Source reference: SRC-8120 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.merlinproperties.com/wp-content/uploads/2026/03/CMD-2026-CNMV-1.pdf

Phase ii design IT capacity MW · 96 MW

Design · MERLIN Edged Bilbao-Arasur Campus (Project)

Claim 160795 · Recorded claim type: Design · Review: Approved · Claim date: Not stated

Headline treatment: Separate claim, not added to the headline

  1. MERLIN Capital Markets Day, Navalmoral slides 37–39

    MERLIN Properties · Document date: Mar 10, 2026 · Primary

    Source reference: SRC-8120 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.merlinproperties.com/wp-content/uploads/2026/03/CMD-2026-CNMV-1.pdf

Phase iii design IT capacity MW · 162 MW

Design · MERLIN Edged Bilbao-Arasur Campus (Project)

Claim 160796 · Recorded claim type: Design · Review: Approved · Claim date: Not stated

Headline treatment: Separate claim, not added to the headline

  1. MERLIN Capital Markets Day, Navalmoral slides 37–39

    MERLIN Properties · Document date: Mar 10, 2026 · Primary

    Source reference: SRC-8120 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.merlinproperties.com/wp-content/uploads/2026/03/CMD-2026-CNMV-1.pdf

Reviewed bio aai context · The environmental decision signed October 16, 2025 formulates the environmental impact declaration for regulatory Building 1 and modifies the integrated environmental authorization held by Merlín Logística, S.L.U. for Arasur. The three building design totals about 190 MW electrical power: Building 3 has 22 MW critical plus 8 MW general services, Building 2 has 48 MW critical plus 22 MW non critical, and Building 1 has 60 MW critical plus 30 MW non critical. These are regulatory design quantities, not operating load or the later 280 MW IT masterplan; regulatory labels are not verified commercial building identifiers.

Source report · MERLIN Edged Bilbao-Arasur Campus (Project)

Claim 162630 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. Arasur Building 1 environmental declaration and integrated authorization modification

    Gobierno Vasco · Document date: Not stated · Primary

    Source reference: SRC-8318 · Government record · Recorded authority: Official primary

    Source URL

    https://www.euskadi.eus/contenidos/anuncio_tablon/anu_20251021112556/eu_def/adjuntos/aai00453_2024_ms_002-res_v1.pdf

Reviewed bio water context · For the three building scope, the decision estimates 1,150 m³ per year of municipal water for sanitary and fire system uses once all three operate, and describes dry cooling. This is authorization scope design consumption, not measured use, zero total water use or a full masterplan forecast.

Source report · MERLIN Edged Bilbao-Arasur Campus (Project)

Claim 162631 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. Arasur Building 1 environmental declaration and integrated authorization modification

    Gobierno Vasco · Document date: Not stated · Primary

    Source reference: SRC-8318 · Government record · Recorded authority: Official primary

    Source URL

    https://www.euskadi.eus/contenidos/anuncio_tablon/anu_20251021112556/eu_def/adjuntos/aai00453_2024_ms_002-res_v1.pdf

Reviewed bio detail context · Ribera Baja council approved the second amendment to the supermanzana 6 first phase detail plan on January 26, 2026, published February 4. The notice names Merlín Properties SA as promoter and Lks Krean as author. Detail plan approval does not establish land title, building completion or commissioning.

Source report · MERLIN Edged Bilbao-Arasur Campus (Project)

Claim 162632 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. Ribera Baja supermanzana 6 second detail-plan amendment notice

    Boletín Oficial del Territorio Histórico de Álava · Document date: Feb 4, 2026 · Primary

    Source reference: SRC-8319 · Government record · Recorded authority: Official primary

    Source URL

    https://www.araba.eus/botha/Boletines/2026/015/2026_015_00250_C.pdf

Reviewed bio dec2025 context · In its February 26, 2026 results announcement, MERLIN reported that the third Basque 48 MW building had obtained its construction licence and begun works in December 2025. That dated operator account remains unreconciled with the later description of an early-2026 start, and its regulatory building number has not been established.

Source report · MERLIN Edged Bilbao-Arasur Campus (Project)

Claim 162633 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. MERLIN 2025 results announcement — Basque third-building construction account

    MERLIN Properties · Document date: Feb 26, 2026 · Primary

    Source reference: SRC-8320 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.merlinproperties.com/ano-excepcional-para-merlin-con-crecimiento-en-ingresos-netos-del-10-y-fuerte-impulso-operativo-en-data-centers/

Counterparties and capital

MERLIN Properties · Developer · CMP-1723

This schedule captures public Cartis research. It is not a title, lien or legal-opinion report. Document page/section locators and claim review timestamps are included only when published; this version has no separate locator or claim-review-time feed.