SEB Bank has approved a 10-year loan of EUR 30 million to Latvia’s DEAC and Lithuania’s Data Logistics Centre (DLC). The funding will be utilised to advance the Baltic telecommunication infrastructure, with a primary focus on expanding data centres and fibre-optic networks.
“The investment from SEB Bank will mainly finance the construction of the new third DEAC data centre in Riga, Latvia, which will be one of the most sustainable in the region. It will also go towards the expansion of the DLC data centres in Vilnius, Lithuania and fibre-optic networks,” says DEAC and DLC CEO Andris Gailitis.
Both companies are carrier-neutral data centres operators of cloud computing and IT infrastructure solutions, part of Baltic Rezo, a company owned by Quaero European Infrastructure Fund II (QEIF II), which invests in infrastructure projects across Europe and is managed by the asset management company Quaero Capital.
“We remain firmly committed to the Baltics, building top quality, efficient and environmentally neutral critical infrastructure. We’re pleased we’ve developed this long-term relationship with SEB Bank,” says Quaero Capital Managing Partner Sébastien Bourget.
Latvia’s upcoming data centre is set to achieve exceptional energy efficiency, boasting a remarkable power usage effectiveness coefficient of less than 1.3. This coefficient signifies the data centre’s exceptional ability to utilise electricity efficiently in maintaining smooth operations of its IT equipment. The data centre will exclusively rely on renewable energy sources to power its operations. For backup power generation, the facility will employ Neste MY diesel, a fuel derived from renewable raw materials through hydrotreated vegetable oil (HVO).
To ensure the highest standards of quality and reliability, the data centre will be granted Tier III certification by the renowned international certification organisation, the Uptime Institute. This certification applies to both the design documents and the completed facility, attesting to the data centre’s adherence to the most rigorous global standards in terms of facilities, engineering infrastructure, and overall performance.
“Digital-intensive work and lifestyle is generating ever-increasing amounts of data with annual growth projected by around a fifth over the next few years. As more information is generated by data-intensive businesses, internet and telecommunications infrastructure development is essential for storing, accessing and managing the ever-increasing volumes of data. The SEB Bank loan will help to build this important infrastructure in the Baltic States and accelerate sustainable digital transformation in our society and business,” says SEB Bank Management Board Member and Head of Corporate Banking Vilius Juzikis.