UBS Asset Management (UBS-AM) Real Estate & Private Markets (REPM) has agreed to finance LMD, a data center facility located in the repurposed Lefdal olivine mine in western Norway.
LMD is owned by the Columbia Threadneedle European Sustainable Infrastructure Fund, a mid-market infrastructure fund, and German Edge Cloud GmbH & CO KG, part of German industrial conglomerate Friedhelm Loh Group.
UBS-AM REPM’s €50 million ($61 million), five-year financing agreement will support the continued expansion of the data center facility within the mine beyond its existing 20-megawatt capacity.
LMD is powered by stable, green and low-cost hydroelectric energy, using cold water from a fjord for cooling. It offers 120,000 square meters (1.3 million square feet) of space across three levels
According to UBS-AM REPM, Norway’s access to renewable power, low energy cost, favorable climate and developed infrastructure make the country one of the most attractiv
