Canelones, Uruguay · Infrastructure Platform

A Long-Term Infrastructure Platform in Canelones, Uruguay

Zenith is advancing a phased development platform designed to bring together water, renewable energy, digital infrastructure, and selected supporting real estate within one disciplined long-term strategy.

Scroll
Fun Facts About Uruguay
$850M+ Google Data Center in Canelones
99% Electricity from Renewables (2024)
Baa1 / BBB+ / BBB Investment-Grade Sovereign
#13 Globally Transparency International CPI 2024
Full Democracy #15 Globally — EIU Democracy Index 2024
90%+ Broadband Access Nationwide
Highest GDP per Capita in South America
US$2.04B Tourism revenues in 2025 — up 16% vs. 2024
#23 of 143 World Justice Project 2025 · #1 in the region
99% Literacy rate — one of the highest in the world
100% Population with electricity access
~US$280M UPM deep-sea pulp terminal in Montevideo (2022)
$850M+ Google Data Center in Canelones
99% Electricity from Renewables (2024)
Baa1 / BBB+ / BBB Investment-Grade Sovereign
#13 Globally Transparency International CPI 2024
Full Democracy #15 Globally — EIU Democracy Index 2024
90%+ Broadband Access Nationwide
Highest GDP per Capita in South America
US$2.04B Tourism revenues in 2025 — up 16% vs. 2024
#23 of 143 World Justice Project 2025 · #1 in the region
99% Literacy rate — one of the highest in the world
100% Population with electricity access
~US$280M UPM deep-sea pulp terminal in Montevideo (2022)

A platform built for long-duration value

Zenith is being developed as a high-conviction platform for productive investment in Uruguay. The strategy is to align strategic land, resource relevance, infrastructure opportunity, and experienced execution into a single long-term development thesis.

01

Strategic Land Position

A large-format development platform with long-term optionality, designed for multiple complementary value-creating pathways.

02

Resource Relevance

Water and infrastructure considerations are central to the site's long-term importance. The property is situated next to a beautiful lake, with a large freshwater aquifer system underneath it.

03

Energy Pathway

Renewable energy forms a foundational layer of the broader platform strategy, in a country that generated 99% of its electricity from renewables in 2024.

04

Digital Opportunity

Canelones is increasingly relevant to modern infrastructure. Google invested $850M in a hyperscale data center here in 2024 — the closest region to Montevideo.

A disciplined platform for partners with a long-term horizon

Zenith is designed for aligned investors, operators, and strategic partners seeking exposure to a stable jurisdiction and a differentiated development platform in South America.

The Project

A Multi-Asset Platform with Long-Term Optionality

Zenith is being shaped to support infrastructure, industrial, and technology-oriented uses in Canelones through a phased and partnership-led development approach.

See the land from above

Zenith Property — Canelones, Uruguay · Aerial drone footage

Not a single-use project. A long-horizon platform.

Zenith is a long-horizon development platform intended to accommodate complementary uses across water-related infrastructure, renewable energy, digital infrastructure, and selected supporting development. The objective is to create a durable base for future operators and strategic partners while contributing to productive regional growth.

Canelones, Uruguay
Gateway to Montevideo · Strategic infrastructure corridor
$850M+
Google Data Center
99%
Renewable Energy
#13
Global TI Corruption Index
Baa1
Moody's Sovereign Rating

Four pillars of long-term value

Development Flexibility

Zenith is being advanced as a platform rather than a fixed end state, allowing multiple value-creating pathways to be evaluated over time.

Water Relevance

Water is one of the site's defining strategic considerations. The property is situated on a beautiful lakefront, with a large freshwater aquifer system underneath it — informing several potential long-term industrial and infrastructure use cases.

Renewable Energy Pathway

Energy is a foundational component of the Zenith strategy and an important lever for future site activation — in a country generating 99% of its electricity from renewables.

Digital-Era Optionality

As Canelones gains importance in Uruguay's broader infrastructure ecosystem — anchored by Google's $850M data center — Zenith is positioned to evaluate technology-oriented use cases alongside other productive uses.

Phased. Disciplined. Partner-led.

Zenith is being advanced through a phased development strategy designed to prioritize capital discipline, regulatory alignment, and long-term value creation. Each phase is designed to reduce risk, validate assumptions, and create optionality for the next stage.

I
Phase One

Foundation & Validation

The initial phase focuses on execution of the team's exclusive land purchase option, conducting comprehensive diligence, and establishing a clear, data-driven development roadmap. The objective is to ensure all subsequent development is grounded in verified data, realistic assumptions, and a clear execution pathway.

  • Execution of exclusive land purchase option
  • Environmental and technical assessments
  • Water resource analysis and sustainability evaluation
  • Energy feasibility and grid connectivity review
  • Preliminary site planning and infrastructure mapping
  • Engagement with regulatory and institutional stakeholders
Outcome A fully developed foundation for decision-making, including validated resource profiles, a defined development strategy, and readiness to advance into execution.
II
Phase Two

Initial Activation

With foundational diligence complete, Zenith transitions into early-stage development. This phase emphasizes the selective implementation of infrastructure and the onboarding of aligned partners to begin operationalizing key components of the platform. The approach is intentionally measured, prioritizing high-quality execution and strategic alignment over speed.

  • Deployment of initial energy infrastructure
  • Advancement of water-related infrastructure, subject to approvals
  • Establishment of core site infrastructure (access, utilities, foundational systems)
  • Formalization of strategic partnerships and operating agreements
  • Continued coordination with regulatory bodies and local stakeholders
Outcome A partially activated site with initial revenue pathways, validated execution capability, and a proven model for future expansion.
III
Phase Three

Scaled Development

Following successful initial activation, Zenith is positioned to scale development across selected verticals. Expansion is driven by validated demand, partner alignment, and regulatory clarity, ensuring that growth remains disciplined and economically sound. Zenith is designed to evolve as a flexible platform capable of supporting multiple complementary use cases over time.

  • Expansion of infrastructure across energy, water, and digital applications
  • Development of additional site capacity and supporting infrastructure
  • Integration of complementary uses that enhance overall platform value
  • Continued optimization of land use and operational efficiency
  • Long-term alignment with regional economic development and market demand
Outcome A fully realized, multi-asset platform with diversified revenue streams, institutional-grade infrastructure, and long-term strategic relevance.

Disciplined by design

Zenith's development approach is deliberately disciplined. The emphasis is on sequencing, responsible resource evaluation, partnership quality, and long-term alignment over speed for its own sake.

Built for durability

The Zenith thesis is based on durability: a stable jurisdiction, strategic regional positioning, infrastructure relevance, and a platform structure that can evolve as the market, partnerships, and development pathway mature.

For additional project information, contact the Zenith team

Zenith works with a select group of aligned investors, operators, and strategic partners.

The Team

Experienced Across Capital, Regulation, Development, and Innovation

Zenith's team combines international perspective with on-the-ground Uruguayan experience, emphasizing execution relevance, governance maturity, and local fluency.

International perspective. On-the-ground execution.

Zenith brings together leadership with experience across investment strategy, legal and regulatory structuring, local market execution, innovation ecosystems, and long-term project development.

David Luftglass
David Luftglass
Chief Executive Officer

David Luftglass is a strategic operator and founder with over a decade of experience building and scaling ventures across real estate, technology, and emerging industries. He is the founder of Acronym Investment and has launched 7 brands and over 70 products in the United States. Previously, David managed a cryptocurrency investment fund that outperformed bitcoin and ethereum in 4 of its five terms.

At Zenith, David leads overall strategy, capital formation, and partnership development. His role is focused on aligning international capital with high-quality opportunities in Uruguay, structuring the project for long-term value creation, and building the strategic relationships necessary to execute a multi-asset development platform.

LinkedIn
Santiago González Cravino
Santiago González Cravino
Chairman

Santiago González Cravino is a highly accomplished leader with over two decades of experience across public and private sector development, international institutions, and economic strategy. He has held senior roles including Director of the Mercosur Secretariat and Director at the United Nations Industrial Development Organization (UNIDO), as well as Technical Coordinator for Inter-American Development Bank (IDB) programs.

A Member of the Academic Council of the Argentine Chancellery, the Foundation for Higher Business Studies, and the Teatro Colón Foundation, Santiago holds an MBA from Harvard University and has published extensively on regional economic integration and development. As Chairman of Zenith, Santiago provides senior strategic guidance, helping align the project with broader regional dynamics and long-term economic development objectives.

LinkedIn
Rodrigo Rey
Rodrigo Rey
General Counsel

Rodrigo Rey is a legal and regulatory expert with extensive experience advising on compliance, corporate structuring, and public-private sector engagement across Uruguay and international jurisdictions. He holds a law degree from the University of the Republic, a Master's Degree in Regulatory Compliance from the University of La Mancha, and is a candidate for a Master of Laws from the University of Montevideo.

At Zenith, Rodrigo leads legal and regulatory strategy, ensuring that the project is structured in compliance with applicable frameworks while maintaining flexibility for long-term development. His expertise spans regulatory navigation, government relations, and cross-border legal considerations.

LinkedIn
Enrique Topolansky
Enrique Topolansky
Board of Directors

Enrique Topolansky is an experienced innovation leader and mentor, having served as Head of Innovation for Uruguay's largest university, ORT, for over 30 years. A graduate of the Stanford Technology Ventures Program and the MIT Professional Education program, Enrique has provided invaluable guidance to every Uruguayan unicorn to date — all three of the country's tech unicorns went through his incubator program in their early days.

He has mentored hundreds of Uruguayan startups, building an exceptional track record of identifying and cultivating high-potential ventures within Uruguay's entrepreneurial ecosystem.

LinkedIn
Andrés Israel
Andrés Israel
Vice President & Board Member

Andrés Israel graduated from Dickinson College with a degree in International Relations and Economics, completed a program in Entrepreneurship at Hebrew University of Jerusalem, and holds executive certificates from both Stanford University Business School and Harvard Business School.

An Endeavor entrepreneur and recipient of Uruguay's 2018 National Innovation Award for his startup GuruCargo, Andrés is currently CEO of Pooshlo, a rapidly scaling influencer marketing platform based in Punta Del Este. At Zenith, he bridges international capital and local execution, drawing on deep relationships across Uruguay's private sector and innovation ecosystem.

LinkedIn
Thomas Kossmann
Thomas Kossmann
Real Estate Partner

Thomas Kossmann is a Uruguay-based real estate investor and advisor with deep expertise in land development, structuring, and execution of large-scale projects across the country. With decades of on-the-ground experience navigating local regulatory frameworks and complex land assets, Thomas plays a critical role in bridging international capital with Uruguayan opportunities.

He is also an active owner and director at the World Trade Center Complex in Uruguay — one of the country's most prominent tax-advantaged business environments. At Zenith, Thomas leads land strategy and development execution, supporting site optimization and the practical realization of the broader platform vision.

WTC Uruguay
Why Uruguay

A stable, rules-based, infrastructure-ready environment for long-term investment

Uruguay combines institutional continuity, high-quality infrastructure, and an increasingly future-facing operating environment. For long-duration platforms, those fundamentals reduce execution risk and improve long-term planning certainty.

90%+
Broadband Access Nationwide
$850M+
Google Data Center — Canelones
99%
Electricity from Renewables (2024)
#13
Globally — TI Corruption Index 2024
Why Invest in Uruguay? — Uruguay XXI

A small country with outsized fundamentals

3.39M
Population
Small country, practical scale for execution. Uruguay's modest population belies its global economic footprint and institutional maturity. (World Bank, 2024)
30M+
People Fed by Uruguay
Uruguay produces food for over 30 million people — almost 10× its population — featuring some of the best beef in the world, with 12 million cattle. 93% of land is suitable for agriculture.
99%
Renewable Electricity (2024)
Uruguay generated 99% of national electricity from renewables in 2024, with hydro, wind, and biomass as major contributors — one of the cleanest electricity systems in the world. (Ministry of Industry, Energy & Mining)
3.11%
Inflation (Feb 2026)
Within the 3–6% tolerance range for 33 consecutive months. Uruguay's inflation-targeting framework centers on a 4.5% target, with strong IMF alignment. (Official reporting)
76/100
TI Corruption Index 2024
Uruguay is the top scorer in the Americas on Transparency International's Corruption Perceptions Index 2024, ranked 13th globally — a strong rule-of-law signal for long-duration investors.
8.67/10
EIU Democracy Index 2024
Uruguay ranks 15th globally and is classified as a "full democracy" — the only country in South America in that category. (Economist Intelligence Unit, 2024)

Investment-grade across all three major agencies

Uruguay's investment-grade sovereign profile is one of the clearest signals of institutional predictability in the Americas — a foundational consideration for long-duration infrastructure platforms.

Moody's
Baa1
Stable Outlook · Jan 2026
S&P
BBB+
Stable Outlook · Nov 2025
Fitch
BBB
Stable Outlook · Sep 2025
Uruguay Exports Trust — Uruguay XXI

A foundation for digital-era infrastructure

Broadband & Fiber-to-the-Home

Over 90% of Uruguay's population has broadband internet access — a connectivity baseline that meaningfully expands what is feasible for digital services, distributed work, and data-intensive operations. (U.S. government market intelligence)

Hyperscale Data Center Signal

Google's decision to invest $850 million in a hyperscale data center in Canelones is a high-visibility signal. Hyperscale projects require a credible combination of grid reliability, connectivity, and institutional predictability — all of which Uruguay has demonstrated.

Subsea Connectivity

Completion of Google's Firmina subsea cable linking Myrtle Beach, South Carolina to Punta del Este strengthens Uruguay's role in regional data flows — one concrete example of why Uruguay is becoming more strategically relevant to global digital infrastructure.

Inside a Google Data Center — Google

Rare execution capability in digital inclusion

Uruguay's Plan Ceibal scaled nationwide beginning in 2007, connecting every educational institution and providing computers and connectivity to students and teachers across the public system. Within two years, every primary school student and teacher had a computer and wireless connectivity — an unusually fast nationwide deployment for a public program.

Over time, that baseline improves the depth of digitally fluent talent and strengthens the country's readiness for modern services and infrastructure — an important signal of national-scale execution capability.

One of the cleanest electricity systems in the world

Uruguay generated 99% of its electricity from renewable sources in 2024, with hydro, wind, and biomass as major contributors. Grid coverage reaches 99.8% of households with strong redundancy in the transmission network — positioning reliability as part of the national value proposition.

For infrastructure underwriting, this is not a "nice-to-have" — it is a core cost, reliability, and sustainability input, especially for energy-intensive and mission-critical operations.

EDF in Uruguay: Collaboration with UTE — Renewable Energy in Practice

Uruguay's investment story, in their own words

Invest in Uruguay — Uruguay XXI
Uruguay Exports Trust — Uruguay XXI
Contact

Contact Zenith

Zenith works with a select group of aligned investors, operators, strategic partners, and institutional stakeholders.

For project information & partnership discussions

For project information, partnership discussions, or diligence-related inquiries, please use the form. All inquiries are reviewed directly by the Zenith team.

Email david@renaissanceassets.com
Location Canelones, Uruguay
  • Strategic Partners
  • Investors & Capital Partners
  • Operators & Infrastructure Partners
  • Institutional Stakeholders

Submit an Inquiry

Thank you for your interest in Zenith.

A member of the team will be in touch shortly. All inquiries are reviewed directly by the Zenith team.