The Estonian company Greenergy Data Centers has involved the Three Seas Initiative Investment Fund (3SIIF), an investment fund established within the framework of the Three Seas Initiative, as an investor and acquired MCF, the largest data center in the Baltics being established near Tallinn.
Greenergy Data Centers announce that on Tuesday it completed the acquisition of MCF Group Estonia OÜ, which is building a data center that is to be opened near Tallinn in 2021 and will have a maximum capacity of up to 20 megawatts.
With the transaction, 3SIIF acquired a controlling interest in Greenergy Data Centers OÜ, which, in turn, became the full owner of MCF Estonia OÜ, which is building the data center.
“Acquisition of the new data center to be built near Tallinn is the first step towards our goal of establishing energy-efficient data centers in the Central and Eastern European countries that have joined the Three Seas Initiative in the coming years,” said Üllar Jaaksoo, founder and head of Greenergy Data Centers OÜ.
According to Jaaksoo, in light of growing data volumes, there is a demand for modern data centers in the entire Central and Eastern European region that are energy efficient and meet the highest security requirements. “Upon the completion of the first phase of the new data center in the first quarter of next year, we will continue to expand the business model to other Central and Eastern European countries,” he added.
“The Greenergy platform and its first data center, MCF, will enhance digital connectivity through a network of energy efficient data centers across the Three Seas region. We are delighted that it we are working with such a high caliber team in this important first digital investment for the fund,” said Joe Philipsz, senior investment director at Amber Infrastructure, investment adviser to 3SIIF.
The Three Seas Initiative Investment Fund (3SIIF), established under the Three Seas Initiative, is a fund for infrastructure investment planning in Central and Eastern Europe, focusing on the energy, transport and digital infrastructure sectors.
The Three Seas Initiative aims to promote cooperation, in particular in the development of infrastructure in the energy, transport and digital sectors. The objectives of cooperation are economic growth, the well-being of the population and increasing Europe’s competitiveness, as well as energy security and an energy market based on open competition, and the achievement of climate goals through smart investment.
Ellex in Estonia advised Three Seas Initiative Investment Fund and Amber Infrastructure Group on the deal. The team was led by Partner Sven Papp and included Managing Partner Ants Nõmper, Counsel Jaanus Ikla, Senior Associates Gerda Liik and Rauno Klemm, and Associates Kairi Kilgi and Kevin Gerretz.
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