Nordic Investment Bank Supports EcoDataCenter’s Expansion with SEK 280 Million Loan

Nordic Investment Bank Supports EcoDataCenter’s Expansion with SEK 280 Million Loan

(IN BRIEF) The Nordic Investment Bank (NIB) has finalized a SEK 280 million (approx. EUR 24 million) five-year loan agreement with EcoDC AB (EcoDataCenter) to support the expansion of its Falun data centre in Sweden. This funding will enable EcoDataCenter to significantly enhance its capacity, providing secure and sustainable data centre solutions amidst increasing data usage, driven particularly by advancements in Artificial Intelligence (AI). By 2025, the expansion aims to add 24 MW of capacity at the Falun site, alongside investments in existing infrastructure. André Küüsvek, President and CEO of NIB, expressed that the loan contributes to regional digitalization and enhances competitiveness in data infrastructure, emphasizing EcoDataCenter’s commitment to sustainable practices. The Falun facility, designed for maximum energy efficiency, operates entirely on renewable electricity and utilizes a combined heat and power (CHP) plant for heat reuse. EcoDataCenter CEO Peter Michelson highlighted the importance of strategic financial partnerships in supporting their growth trajectory as a leading provider of sustainable data solutions since their establishment in 2014 under the ownership of Nordic fund manager Areim.

(PRESS RELEASE) HELSINKI, 10-Jul-2024 — /EuropaWire/ — The Nordic Investment Bank (NIB), an international financial institution with focus on the Nordic and Baltic countries, announces that it has finalized a SEK 280 million (approx. EUR 24 million), five-year loan agreement with EcoDC AB (EcoDataCenter) to facilitate the expansion of its Falun data centre in Sweden.

This financing enables EcoDataCenter to enhance its capacity, offering secure and sustainable data centre solutions to meet the growing demand driven by the rapid increase in data usage, particularly fueled by advancements in Artificial Intelligence (AI). The Nordics have emerged as a preferred hub for data centre services, bolstered by this expansion.

The loan will specifically fund the expansion of the Falun site by 24 MW by 2025, alongside incremental investments in the company’s existing infrastructure.

“André Küüsvek, President and CEO of NIB, commented, ‘With this loan, we can support ongoing digitalization within our member regions and enhance competitiveness in data infrastructure. EcoDataCenter’s sustainable approach in Falun sets a benchmark for data centre operations, which we are proud to support.'”

EcoDataCenter’s Falun facilities are designed with a focus on maximizing energy efficiency, powered entirely by renewable electricity. Moreover, integration with a combined heat and power (CHP) plant allows for the reuse of excess heat.

“We are embarking on an exciting growth trajectory,” said Peter Michelson, CEO of EcoDataCenter. “Having the support of financial partners like NIB is crucial. We look forward to collaborating closely with them.”

Founded in 2014, EcoDataCenter, owned by Nordic fund manager Areim, specializes in providing sustainable and secure data centre solutions from its Swedish operations.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mikael Ahlers, Senior Banker, at +358 10 618 0386, Mikael.Ahlers@nib.int

Anita Algus, Communications, at +358 10 618 0525, Anita.Algus@nib.int

SOURCE: Nordic Investment Bank