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Cartis diligence evidence schedule

Start Campus SINES Data Campus

PRJ-0269 · Site · Sines, Setúbal, Portugal

Record last updated Oct 28, 2026

Scope and capacity

In its May 12, 2026 operator update, Start Campus forecast SIN02 coming online by the second half of 2027. This is a building-delivery forecast, separate from the late-2027 tenant GPU deployment target and not evidence that SIN02 is already operating. SIN01 is operational and currently marketed at 37.5 MW. SIN02 is the next planned 200 MW facility, with Nscale targeting 66,000+ Rubin GPUs from late 2027. SIN03-06 remain future envelopes within the 1.2 GW campus.

Headline: 1,200 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.

Campus planned IT capacity · 1,200 MW

Planned / design or future potential · Start Campus SINES Data Campus (Project)

Claim 26083 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

Headline treatment: Selected headline

  1. Nscale to deliver 66,000+ NVIDIA Rubin GPUs to Microsoft at Start Campus

    Nscale · Document date: May 5, 2026 · Corroborating

    Source reference: SRC-1458 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.nscale.com/press-releases/nscale-start-campus

  2. Start Campus and EDP enter renewable data-center agreement

    Start Campus · Document date: Feb 25, 2026 · Corroborating

    Source reference: SRC-1459 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/start-campus-and-edp-enter-agreement-to-accelerate-renewable-powered-data-center-development-in-portugal

  3. Powering Europe's Next-Generation AI Infrastructure

    Start Campus · Document date: Oct 30, 2025 · Corroborating

    Source reference: SRC-1457 · Company announcement · Recorded authority: Party primary

    Source URL

    https://blog.startcampus.pt/a-defining-moment-for-start-campus

  4. Start Campus inaugurates SIN01 Data Center

    Start Campus · Document date: Apr 4, 2025 · Corroborating

    Source reference: SRC-1453 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/start-campus-inaugurates-sin01-data-center

  5. Start Campus plans to invest $9.35 billion in Portugal data hub

    Reuters · Document date: Apr 4, 2025 · Corroborating

    Source reference: SRC-1460 · News report · Recorded authority: Secondary

    Source URL

    https://www.reuters.com/technology/artificial-intelligence/start-campus-plans-invest-935-billion-portugal-data-hub-2025-04-04/

  6. SINES DC partners with Siemens Energy

    Start Campus · Document date: Aug 22, 2024 · Corroborating

    Source reference: SRC-1455 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/press_release_august_2024_siemens

  7. SINES DC becomes a 1.2 GW data center campus

    Start Campus · Document date: Aug 8, 2024 · Corroborating

    Source reference: SRC-1454 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/press_release_august_2024_1gw

  8. Start Campus — European Data Center in Portugal

    Start Campus · Document date: Not stated · Primary

    Source reference: SRC-1451 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/

Planned building count · 6 buildings

Actual · Start Campus SINES Data Campus (Project)

Claim 26084 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Start Campus inaugurates SIN01 Data Center

    Start Campus · Document date: Apr 4, 2025 · Corroborating

    Source reference: SRC-1453 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/start-campus-inaugurates-sin01-data-center

  2. SINES DC becomes a 1.2 GW data center campus

    Start Campus · Document date: Aug 8, 2024 · Primary

    Source reference: SRC-1454 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/press_release_august_2024_1gw

Sin01 current marketed capacity · 37.5 MW

Marketed capacity · Start Campus SINES Data Campus (Project)

Claim 26085 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

Headline treatment: Separate claim, not added to the headline

  1. Start Campus — European Data Center in Portugal

    Start Campus · Document date: Not stated · Primary

    Source reference: SRC-1451 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/

Sin01 operational · True

Source report · Start Campus SINES Data Campus (Project)

Claim 26088 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. Start Campus inaugurates SIN01 Data Center

    Start Campus · Document date: Apr 4, 2025 · Primary

    Source reference: SRC-1453 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/start-campus-inaugurates-sin01-data-center

  2. Start Campus — European Data Center in Portugal

    Start Campus · Document date: Not stated · Corroborating

    Source reference: SRC-1451 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/

Sin02 current planned capacity · 200 MW

Planned / design or future potential · Start Campus SINES Data Campus (Project)

Claim 26089 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

Headline treatment: Separate claim, not added to the headline

  1. Nscale to deliver 66,000+ NVIDIA Rubin GPUs to Microsoft at Start Campus

    Nscale · Document date: May 5, 2026 · Corroborating

    Source reference: SRC-1458 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.nscale.com/press-releases/nscale-start-campus

  2. Start Campus — European Data Center in Portugal

    Start Campus · Document date: Not stated · Primary

    Source reference: SRC-1451 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/

Expected construction investment · €8.50 billion

Actual · Start Campus SINES Data Campus (Project)

Claim 26091 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Start Campus inaugurates SIN01 Data Center

    Start Campus · Document date: Apr 4, 2025 · Primary

    Source reference: SRC-1453 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/start-campus-inaugurates-sin01-data-center

  2. Start Campus plans to invest $9.35 billion in Portugal data hub

    Reuters · Document date: Apr 4, 2025 · Corroborating

    Source reference: SRC-1460 · News report · Recorded authority: Secondary

    Source URL

    https://www.reuters.com/technology/artificial-intelligence/start-campus-plans-invest-935-billion-portugal-data-hub-2025-04-04/

Target PUE · 1.1 ratio

Actual · Start Campus SINES Data Campus (Project)

Claim 26092 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Start Campus — European Data Center in Portugal

    Start Campus · Document date: Not stated · Primary

    Source reference: SRC-1451 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/

Target WUE · 0 litres per kWh

Planned / design or future potential · Start Campus SINES Data Campus (Project)

Claim 26093 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Start Campus — European Data Center in Portugal

    Start Campus · Document date: Not stated · Primary

    Source reference: SRC-1451 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/

Renewable energy claim · 100 percent

Actual · Start Campus SINES Data Campus (Project)

Claim 26094 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Start Campus — European Data Center in Portugal

    Start Campus · Document date: Not stated · Primary

    Source reference: SRC-1451 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/

Sin01 privately funded without public subsidy · True

Source report · Start Campus SINES Data Campus (Project)

Claim 26095 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. Start Campus inaugurates SIN01 Data Center

    Start Campus · Document date: Apr 4, 2025 · Primary

    Source reference: SRC-1453 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.startcampus.pt/start-campus-inaugurates-sin01-data-center

Counterparties and capital

Davidson Kempner Capital Management · Owner · CMP-0724

EDP · Supplier · CMP-0727

Pioneer Point Partners · Owner · CMP-0725

REN — Redes Energéticas Nacionais · Utility provider · CMP-0726

Siemens Energy · Supplier · CMP-0197

Start Campus S.A. · Developer, Operator · CMP-0723

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.