updated: 01-05-2023 | 09:24
Swedish data center operator Conapto, which is backed by Marguerite, has secured a SEK 400 million (US$38.6 million | EUR 35.33 million) loan to fund the construction of a new data center in South Stockholm.
The 7-year facility was underwritten by Kommunalkredit, a specialized bank for infrastructure and energy financing, which acted as the sole mandated lead arranger. The newly acquired funds will be used to finance the first phase of Conapto's new 8,000 square-meter data center. The facility will be eco-friendly and comply with environmental standards, using 100% renewable energy and connecting to the district heating network. Once operational, the new data center will provide 20MW of power capacity.
Michael Dedieu, Managing Partner at Marguerite, said, "We are delighted to announce this financing with Kommunalkredit. We acquired the company with the ambition to carry out a large expansion plan consistent with our sustainable investment strategy." Conapto has already added 2MW of data center capacity in Northern Stockholm since Marguerite's acquisition in July 2021.
In August 2022, the company commissioned the first of two expansions it had planned for Northern Stockholm. Stockholm Exergi and Conapto then announced plans in October 2022 to build a new 20MW operation in suburban Stockholm, which will have 4,000 square-meters of space in its first phase on two floors. The new data center will add to the two climate-neutral data centers Conapto already has in the city.
Conapto recently signed a long-term agreement with a leading S&P 500 digital services company, strengthening its position in the industry. Valor provided M&A advice to Marguerite, while Setterwalls provided legal advice and PMP provided technical and commercial advice. Kommunalkredit received legal advice from Roschier.