DEAC and DLC attract an investment of 30 million euros for data centers and network development in the Baltic States
Latvia's DEAC and Lithuania's Data Logistics Center (DLC) received a 10-year, €30 million loan from SEB Bank to further expand the Baltic telecommunications infrastructure, focusing on data centers and fiber optic networks.
RIGA, Latvia, July 20, 2023 /PRNewswire/ -- "SEB Bank's investment will mainly finance the construction of the new third DEAC data center in Riga, Latvia, which will be one of the most sustainable in the region. It will also go towards the expansion of DLC data centers in Vilnius, Lithuania and fiber optic networks," said DEAC and DLC CEO Andris Gailitis. Both companies are carrier-independent data center 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 asset management company Quaero Capital.
"We remain strongly committed to the Baltics, building high-quality, efficient and environmentally neutral critical infrastructure. We are pleased to have developed this long-term relationship with SEB Bank," said Quaero Capital Managing Partner Sébastien Bourget.
The new data center in Latvia will be very energy efficient. It will have a power usage effectiveness (PUE) ratio of less than 1.3, indicating how efficiently a data center will use electricity to keep IT equipment running smoothly. The new data center will run entirely on electricity from renewable sources, and the backup power generators will use Neste MY diesel, which consists of hydrotreated vegetable oil (HVO) produced from renewable feedstocks.
The data center will be Tier III certified for design documents and built facility from the Uptime Institute, an international certification organization. This will certify that the facilities, engineering infrastructure and data center meet the highest international standards. The entire data center is being built using the latest and most efficient technologies to meet the growing power needs of the data center.
"Digital data-intensive work and lifestyle are generating ever-increasing amounts of data with projected annual growth of around one-fifth in the coming years. As data-intensive businesses generate more information, the development of internet and telecommunications infrastructure is essential to store, access and manage the ever-increasing volumes of data. SEB Bank's loan will help build this important infrastructure in the Baltic States and accelerate sustainable digital transformation in our society and business," said Vilius Juzikis, Member of the board of directors of SEB Bank and director of Corporate Banking.
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