Second investment by Three Seas Fund announced
Greenergy Data Centers OÜ ('Greenergy’) announces its backing by the Three Seas Initiative Investment Fund (’3SIIF’) and Estonian telecoms and technology executive, Üllar Jaaksoo. Greenergy plans to develop a network of green data centres in Central and Eastern European countries and as a first step, has acquired a 20MW data centre facility currently under construction in Estonia.
"Our medium term plan is to create a network of sustainable and energy efficient secure data centres in the countries forming the Three Seas Initiative. The acquisition of a new, world class data centre project in Estonia is the first step in our roadmap" said Üllar Jaaksoo, who became CEO of Greenergy Data Centers, a company established for developing data centres across the Three Seas Initiative countries.
Greenergy has completed its first investment, acquiring MCF Group Estonia OÜ (’MCF’), an Estonian data centre facility currently under construction. Due for finalisation in 2021, MCF will deliver a world-class data centre with up to 20MW of capacity to the Baltic market .
“We set a clear goal for the Three Seas Fund – developing cross-border infrastructure investments in the region in three main sectors - energy, transport and digitization. I am proud that the Fund is fully operating and today we are celebrating investment in the first digital project. Improving connectivity between our Three Seas countries is key to build economic growth and to make European Union’s cohesion. I am convinced that the Fund will play an important role in the development and integration of our region, and the investments will have an impact on rising the quality of life for all our citizens,” said Beata Daszynska-Muzyczka, Chairman of the Supervisory Board of the 3SIIF.
"This first digital investment of 3SIIF into Greenergy Data Centers demonstrates the vast potential of the Three Seas Initiative. I am extremely glad to see it happening in Estonia, as we introduced a comprehensive Smart Connectivity Concept in Tallinn," said said Jüri Ratas, the Prime Minister of Estonia. "This shows that newer, greener and more efficient business models can be developed and scaled throughout the whole Three Seas region from Baltic sea to Black and Adriatic. This is where the true potential of our region lies."
"The data centre model initiated by the MCF Estonia team and led by CEO Kert Evert is a perfect match with Greenergy’s vision - it will make data management sustainable and green," noted Üllar Jaaksoo. "We look forward to opening the first phase of the data centre next year and commencing work on further projects across the region in the near term."
Randolf Njisse, the Chairman of the Supervisory Board of Greenergy Data Centers, added: "The Three Seas region holds immense opportunities for new and sustainable business models that act as digital enablers and it is my extreme pleasure to take the journey with Greenergy Data Centers backed by 3SIIF in expanding the digital knowledge of Estonia into other markets."
Kert Evert, CEO of MCF Estonia commented: “For the biggest data centre project in the Baltic states that will be launched next year near Tallinn, MCF has gathered a strong team of experienced specialists with latest know-how in the fields of planning, building and managing modern, energy efficient and sustainable data centres. In the past two years, we have gained insight and established business contacts with all the providers of the most up-to-date hard- and software solutions and technologies in the field of data centres and digital connectivity. I am honored and pleased that now we are able to scale this business model substantially in cooperation with Greenergy and 3SIIF. After all, data centres and fibre optic networks are the brain and nerve centre of current and future digital society.“
Greenergy Data Centers was founded by successful telecoms and technology executive Üllar Jaaksoo. The company aims to develop energy efficient and sustainable data centres facilities meeting the challenges of exponentially growing needs for data management and related energy use.
3SIIF is a dedicated commercial fund targeting infrastructure investments in Central and Eastern Europe (‘CEE’). The Fund will invest in energy, transport and digital infrastructure in European Union (‘EU’) CEE member states which border the Baltic, Adriatic and Black Seas where the demand for long-term commercial investment into national infrastructure is among the highest in the EU. Amber Infrastructure Group is the exclusive investment adviser to the Fund.
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