3i Infrastructure acquires majority stake in Norway’s Lefdal Mine Datacenter for €300 million

3i Infrastructure has acquired a majority stake in Norway’s Lefdal Mine Datacenter (LMD) for €300 million ($347.3m), with the deal expected to complete in summer 2026. LMD, which currently has 80MW of available power and 37MW of operational capacity, is being acquired from a fund managed by Columbia Threadneedle Investments. This acquisition further diversifies 3i Infrastructure's portfolio into the data center subsector, leveraging Norway's low-cost power and LMD's underground, seawater-cooled facility with substantial growth potential up to 200MW.

Counterparts (3)

Buyer

3i Infrastructure

company

3i Infrastructure plc is a London-listed investment company managing approximately $4.8 billion in net assets as of March 2024. It invests in a diversified portfolio of infrastructure businesses and assets primarily across Europe and North America, focusing on sectors like digital infrastructure, renewables, utilities, and transport.

Seller

L

Lefdal Mine Datacenter (LMD)

company

Lefdal Mine Datacenter (LMD) is a large-scale, highly secure, and sustainable data center located in a former mine in Måløy, Norway. It offers up to 200 MW of IT load and 120,000 m² of space, powered entirely by renewable hydropower and cooled by deep fjord water.

Columbia Threadneedle Investments

company

Columbia Threadneedle Investments is a global asset manager, part of Ameriprise Financial, managing $632 billion in AUM globally, with over $10 billion specifically in infrastructure assets. It invests in core and core-plus essential infrastructure across Europe, North America, and Australia, focusing on sectors like utilities, transportation, digital infrastructure, and social infrastructure.