European data centre developer Bulk Infrastructure said on Thursday that it has received a €350 mln equity investment by BGO, a global real estate investment management firm, to accelerate its growth plans.
BGO’s investment will be made on behalf of investment vehicles under its management. The investment brings BGO’s total equity investment in Bulk since 2020 to over €640 mln.
Bulk intends to invest over €1 bn of new capex by 2026 to grow the firm’s data centre platform in Europe.
Bulk has three sites in Norway and Denmark and in particular its N01 Data Center Campus will have a power capacity of 400 MW by 2026 from 100% renewable power, and with ambitions for 2000 MW (2 GW) in the medium-term.
Bulk recently opened a 12 MW AI-ready facility at the N01 Data Center Campus which is already fully committed. Its next AI-ready centre is under construction and will provide 42 MW of capacity from early 2025.
'The latest investment by BGO will fuel our ambitions to shift the gravity for global and European large data loads to the cold and sustainable North. We are seeing urgent demand for modern, large-scale AI-ready data centres from existing and new customers. BGO has been a reliable shareholder and partner to us since its first investment in 2020 enhancing our ability to deliver on our scalable, sustainable Nordic data centre platform,' said Peder Naerboe, founder and executive chairman in Bulk.
John Carrafiell, Co-CEO of BGO added: 'BGO in Europe has long been at the forefront of modern, infrastructure-like industrial real estate investing, and an early mover in the sustainable data centre sector. Today’s announcement with Bulk Infrastructure reaffirms our steadfast commitment to pursuing growth in data infrastructure that will play a critical role serving the industries of tomorrow.'
