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This is the company’s first announcement since it was acquired by US$850 million last month, at an EBITDA of 34 multiples.
Founder and Editor, The Tech Capital
August 05, 2021 | 12:00 AM BST
Norwegian data centre operator Green Mountain has expanded its DC3-Oslo facility outside the capital as a result of landing a leasing contract with an unnamed “large international cloud provider”.
In total, the company added 4MW to the already existing 4MW at the site, which sits on a campus with a total available space for development of 800,000 square feet and total power capacity of 75MW.
The expansion also includes new back-up generator sets and associated infrastructure. The total timeline was estimated at nine months and numerous sub-contractors and vendors were involved in the project.
Project manager, Håvard Lurås, said: “The project progressed nicely although the Covid-19 situation posed challenges with for instance equipment deliveries. However, we managed to find alternative solutions and actually completed the project a few days ahead of schedule.”
Also commenting, CEO of Green Mountain, Tor Kristian Gyland, said: “Norway’s abundance of low-cost renewable power, the government’s beneficial framework conditions, and Green Mountain’s ability to deliver sustainable and high-quality data centres at a rapid speed to market make a strong value proposition. We have secured power and land to grow this site for several years to come.
“We expect to grow at all our three existing locations, but we also need to expand in other regions. We have already secured land at two different locations on the Norwegian west coast, at Kalberg and Haugaland Business Park.”
Green Mountain was acquired by Israeli real estate developer Azrieli Group (TASE: AZRG) for a cash consideration of NIS 2.8 billion (US$850 million).
The company was until then owned by the Smedvig Family (90%) and Green Moutain and Norwegian real estate firm Smedvig employees (10%).
Before the 4MW addition in Oslo, Green Mountain’s operations covered three server farms in Norway with signed contracts for approximately 24 MW and customers for an average period of approx. 7.5 years.
Watch Green Mountain’s CEO react to the business’ $850m sale
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