Magnora ASA Secures a Third Data Center Project, Adding 120 Mw, in the Helsinki – Tampere Area
Magnora is joining as majority owner in an ongoing data center project in Finland, expanding its portfolio with a project for 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 physical conditions are excellent.
The area 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. Geographically, the site is located in Hameenlinna, between Helsinki and Tampere, close to international airports, and with more than 4 million people within a 1.5-hour drive – including a large pool of highly educated technical experts and engineers. 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. This is the third data center project/company Magnora enters within the last three months, in addition to Averoy (100 MW in development) and Storespeed (operational). Magnora continues its efforts to source and develop more projects in the data center space in the coming weeks and months.
The Nordics are a preferred data center market globally and Magnora is well positioned with its experience, network and market understanding.
READ the latest news shaping the data centre market at Data Centre Central
Magnora ASA Secures a Third Data Center Project, Adding 120 Mw, in the Helsinki – Tampere Area, source
