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D9’s Investment Manager is progressing a pipeline of investment opportunities with an aggregate value of approximately £1.9 billion.
Founder and Editor, The Tech Capital
January 13, 2022 | 1:10 AM GMT
Digital 9 Infrastructure, Plc (D9) said it will invest a further US$93 million in Verne Holdings, trading as Verne Global, over the next 12 months to fund the expansion of capacity by a further 20.7 MW.
The investment follows on from the British infrastructure investor’s £231 million (US$317 million) acquisition of Verne last September 2021 which has now also been completed.
The new $93 million tranche will be used to complete a new 8.2MW data hall and build a further 12.5MW of repurposed capacity for additional enterprise customer demand.
This additional capital expenditure will result in a total constructed capacity at the Keflavik site of approximately 40 MW out of a possible 100 MW at this initial site.
The data hall currently under construction is anticipated to start generating revenue in Q3 2022, with the new developments expected to be completed and start ramping up in Q1 2023.
Thor Johnsen, Head of Digital Infrastructure at Triple Point, said: “Verne Global’s data centre assets represent some of the cleanest, lowest carbon footprint data centres, globally. This follow-on investment to fund the expansion of the Verne facility, driven by capacity demand from both new and existing customers, will enable these customers to shift further toward their decarbonisation goals while addressing their growing digital needs.
“The investment also demonstrates our ongoing ability to deliver attractive and accretive contracted cash flow through our investment platform, a leading Nordic data centre business.”
D9’s investment manager Triple Point Investment Management LLP is currently progressing a pipeline of investment opportunities with an aggregate value of approximately £1.9 billion ($2.6 billion) and anticipates updating the market on further investment activity in the near term.
With its IPO in March 2021, to date, D9 has raised total equity of £750 million ($1.03 billion), investing the net proceeds into data centres and fibre networks including Verne, subsea operator Aqua Comms, fibre operator EMIC-1 and UK data centre and subsea cable landing station SeaEdge UK1.
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