Lefdal Mine Datacenter (LMD) has secured funding to expand its facility to meet growing customer needs. The 5-year financing arrangement with UBS Asset Management’s Infrastructure Debt Platform, totalling EUR 50m, will support the expansion of the data center beyond the existing 20MW capacity.
Jørn Skaane, CEO Lefdal Mine Datacenter: “We are pleased with the completion of this credit facility, which strengthens LMD’s financial position. This improves our ability to benefit from increased market demand and invest in growth opportunities in the years to come. We look forward to a good and long-term relationship with UBS Asset Management.”
LMD offers 120,000 m2 whitespace inside mountain halls across three levels in a former mine. Construction cost-per-MW is 30-50% lower than the industry standard, as well as providing leading natural security due to the mine’s infrastructure. Norway’s access to renewable power, low energy cost, favorable climate and developed infrastructure, as well as positive government policy, mean the country is regarded as one as one of the most attractive European locations for the development of data centers.
Alessandro Merlo, Head of Investment, Infrastructure Debt at UBS-AM REPM: “Data centers are an attractive investment opportunity, which have further proved their importance and vital role for businesses during the pandemic crisis. We’re pleased to have worked with LMD to finance the unique development of this unique data center location. This transaction is the first investment for IDP in Norway and the third in the wider Nordic region – an important market for the platform. We are pleased to also support one of the greenest data centers in Europe with very limited environmental footprint and CO2 emissions, in line with our commitment to responsible investing in real assets.”