IBM is investing $8 million in a new cloud center in Cerdanyola del Vallés, Barcelona. It is the first cloud center in Spain for IBM, and the 26th from IBM in the world.

IBM’s new center is located in the same facility as the la Caixa data processing center, a center IBM has been managing for la Caixa, Spain’s third largest financial institution, and a IBM partner for 50 years.

IBM says it is on track to generate about $7 billion revenue by 2015 from cloud computing of which $3 billion is net new.