Magnora, a renewable-energy group developing data center, wind, solar and battery projects, is joining as majority owner in a data center project in Finland. With it, it expands its portfolio with a high-density, AI-ready 120 MW facility. The project is developed together with Northern Europe Energy Group and expected to reach Ready-to-Build stage by the end of 2026.
The site is located in Hämeenlinna, between Helsinki and Tampere, and has 150,000 m² zoned for data center operations, potential for waste-heat recovery through the district heating network, access to all major Finnish fibre operators, stable ground conditions, and a distance of less than one kilometre to the electrical substation.
This is the third data center project/company Magnora enters within the last three months. The company recently acquired a majority stake in Norwegian data center developer Storespeed and started a data center project close to Kristiansund with a capacity up to 100 MW.
The project was initiated by Northern Europe Energy Group (NEEG) last year. Magnora holds a 70% ownership stake in the project through a joint venture (JV) with NEEG owning 30%. NEEG will be responsible for most of the operational development. Magnora contributes with strategic, industrial, and financial expertise, as well as the capability to advance the project in line with customer demand. The collaboration has strong support from the local municipality, aiming for an efficient permitting process that ensures local value creation and sustainable development.
"We are excited to partner with Magnora and the municipality," says Tor Arne Pedersen, Chairman of Northern Europe Energy Group. "Magnora's financial strength, industrial experience, and market insight, combined with strong municipal support and our local expertise, provide a solid foundation for delivering an attractive, large-scale data center project. For Northern Europe Energy Group, this transaction represents one of several strategic steps toward building a valuable Northern European portfolio of energy transition and digital infrastructure projects."
"The City of Hämeenlinna is delighted about the vitality boost brought by the data center. This project represents a significant step forward in advancing technological development, economic growth, and sustainable development in our community," says Ari Räsänen, Director of Relocation Services, Linna Business Development Ltd./ City of Hämeenlinna.
