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Cartis diligence evidence schedule

MERLIN Navalmoral Gigawatt Campus

PRJ-1291 · Site · Navalmoral de la Mata, EX, Spain

Record last updated Oct 29, 2026

Scope and capacity

MERLIN Properties proposes a campus at Expacio Navalmoral in Navalmoral de la Mata, Spain. Its March 2026 plan describes long-term potential for up to 1.4 GW of IT capacity, starting with two proposed 100 MW buildings. The developer reported site control in December 2024, a 2 GW power request in February 2025 and a construction-licence application in September 2025. Requested power is not awarded supply. AAI25/032 describes a later application-scoped design; its correspondence to commercial phases and final approvals remains unverified, rather than establishing a smaller initial commercial deployment.

Headline: 1,400 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 (8)

Target IT capacity MW · 1,400 MW

Planned / design or future potential · MERLIN Navalmoral Gigawatt Campus (Project)

Claim 160786 · 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 · Expacio Navalmoral industrial park; 39°54′24.9″N 5°30′34.2″W. One campus, not separate records for EXT-NAV 01/02 or later buildings.

Reported rounded · MERLIN Navalmoral Gigawatt Campus (Project)

Claim 160787 · Recorded claim type: Reported rounded · Review: Approved · Claim date: Not stated

  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

Land and site control context · More than one million square metres under developer control, per investor presentation.

Reported rounded · MERLIN Navalmoral Gigawatt Campus (Project)

Claim 160788 · Recorded claim type: Reported rounded · Review: Approved · Claim date: Not stated

  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

Initial stage target IT capacity MW · 200 MW

Planned / design or future potential · MERLIN Navalmoral Gigawatt Campus (Project)

Claim 160789 · Recorded claim type: Forecast · 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

Requested grid capacity MW · 2,000 MW

Forecast · MERLIN Navalmoral Gigawatt Campus (Project)

Claim 160790 · Recorded claim type: Forecast · Review: Approved · Claim date: Feb 1, 2025

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

Aai25032 application scope context · The consultation notice published May 22, 2026 for Merlin Edged, SL’s AAI25/032 application describes two buildings on parcel I-64, cadastral reference 4805401TK8240N0001HB, with stated cadastral area 206,753 m². It gives 192 MW critical demand, 288 MW total demand and sixteen 12 MW IT halls. These are application design quantities, not final approval or operating capacity; correspondence to commercial EXT-NAV01/02 remains unverified.

Source report · MERLIN Navalmoral Gigawatt Campus (Project)

Claim 162627 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. AAI25/032 — Navalmoral public consultation notice, DOE 97

    Diario Oficial de Extremadura · Document date: May 22, 2026 · Primary

    Source reference: SRC-8316 · Government record · Recorded authority: Official primary

    Source URL

    https://doe.juntaex.es/pdfs/doe/2026/970o/26080815.pdf

Aai25032 backup cooling design context · The AAI25/032 consultation notice lists 104 emergency diesel generator sets rated 7.9 MW thermal each and 144 rooftop cooling assemblies. Its two 104-set descriptions must not be added together. Thermal ratings are not electrical output or IT capacity, and the application inventory does not establish installed equipment.

Source report · MERLIN Navalmoral Gigawatt Campus (Project)

Claim 162628 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. AAI25/032 — Navalmoral public consultation notice, DOE 97

    Diario Oficial de Extremadura · Document date: May 22, 2026 · Primary

    Source reference: SRC-8316 · Government record · Recorded authority: Official primary

    Source URL

    https://doe.juntaex.es/pdfs/doe/2026/970o/26080815.pdf

Reviewed nav premia context · Decree 92/2026 of May 12, published May 18, grants PREMIA strategic project designation to the project presented by Merlin Edged, SL, NIF B13766233. It does not grant integrated environmental authorization or establish commissioned capacity. Its operative clause expressly excludes public utility/social interest and urgent occupation declarations and establishment or extension of the specified easements; the background also identifies the 400 kV supply line as state jurisdiction infrastructure.

Source report · MERLIN Navalmoral Gigawatt Campus (Project)

Claim 162629 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. Decree 92/2026 — Merlin Edged PREMIA designation

    Diario Oficial de Extremadura · Document date: May 18, 2026 · Primary

    Source reference: SRC-8317 · Government record · Recorded authority: Official primary

    Source URL

    https://doe.juntaex.es/pdfs/doe/2026/930o/26040113.pdf

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.