Latvia's DEAC and Lithuania's Data Logistics Center (DLC) have been granted EUR 30 million 10-year loan by SEB Bank to further expand Baltic telecommunication infrastructure, focusing on data centers and fibre-optic networks.

RIGA, Latvia, July 20, 2023 /PRNewswire/ -- "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," says DEAC and DLC CEO Andris Gailitis. Both companies are carrier-neutral data centers 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 new data center will be highly energy efficient. It will have a power usage effectiveness (PUE) coefficient of less than 1.3, which indicates 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 backup power generators will use Neste MY diesel, which consists of hydrotreated vegetable oil (HVO) produced from renewable raw materials.

The data center will have Tier III certification for the design documents and the constructed 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 serve the growing data center power needs.

"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.