DEAC, a leading provider of IT infrastructure solutions based in Latvia, and Data Logistics Center, a Lithuanian carrier-neutral data centre operator, have been awarded a significant boost in funding.
The companies have secured a €30m 10-year loan from SEB Bank to bolster the telecommunication infrastructure in the Baltics. This investment is aimed at expanding the capacities of data centres and improving fibre-optic networks in the region.
DEAC and DLC are renowned operators of cloud computing and IT infrastructure solutions. They form a key part of Baltic Rezo, a company owned by Quaero European Infrastructure Fund II (QEIF II). QEIF II is a fund dedicated to investing in infrastructure projects across Europe, managed by the asset management company Quaero Capital.
The newly acquired funding will primarily be utilised to construct a new data centre in Riga, Latvia. This facility, which will be the third DEAC data centre in Riga, is set to be among the most sustainable in the region. A portion of the funds will also be directed towards expanding DLC data centres in Vilnius, Lithuania, as well as developing fibre-optic networks.
Additional information highlights that the forthcoming data centre in Latvia will not only be sustainable but also highly energy-efficient. It is expected to have a power usage effectiveness (PUE) coefficient of less than 1.3. This figure indicates the centre’s efficiency in using electricity to keep IT equipment operational. The facility will run entirely on renewable electricity, with backup power generators using Neste MY diesel, a hydrotreated vegetable oil (HVO) produced from renewable materials.
The data centre is also slated to attain Tier III certification for its design documents and constructed facility from the Uptime Institute. This certification is an international stamp of approval that verifies the data centre and its engineering infrastructure adhere to the highest international standards.
In quotes from key players, DEAC and DLC CEO Andris Gailitis said, “The investment from SEB Bank 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 the DLC data centers in Vilnius, Lithuania and fibre-optic networks.”
Quaero Capital Managing Partner Sébastien Bourget also commented, “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.”
Vilius Juzikis, SEB Bank Management Board Member and Head of Corporate Banking, noted, “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.”
The text did not provide any information about previous investments that DEAC and DLC have received.
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