Nordic data center and connectivity operator Bulk Infrastructure Holding, has today announced a new partnership with BentallGreenOak (BGO), as a partner and investor to fund Bulk Infrastructure expansion plan.

BGO is a real estate investment manager, and through this partnership, has committed NOK 1.5 billion (approximately 170 million USD) to support the future growth of Bulk Infrastructure’s core lines of business. BGO will also join the main shareholders of Bulk Infrastructure which includes Bulk Industrier and Geveran, securing capital for the company’s future growth with plans to collectively launch a series of capital injections that will take place from January, 2021.

“This partnership provides us with a solid financial platform as Bulk Infrastructure is opportunity rich in all three business areas. As an example, we see opportunities for major capacity add in our three existing Data Center campuses as well as in other Nordic destinations,” said Jon Gravråk, CEO of Bulk Infrastructure.

“Bulk Infrastructure’s combination of reliable and cost-effective access to 100% green power from renewable sources, cold climate, stable business environment, and well-positioned fiber optic network, is uniquely situated to attract a significant share of the rapidly growing European and global data center market.”

Based on the partnership, Bulk Infrastructure and BentallGreenOak expect to invest in the expansion of Bulk’s N01 Data Center Campus in south Norway. At 3 million square meter and up to 1 GigaWatt of IT power, N01 Campus is planned to become one of the world’s largest data center campus powered by 100% renewable energy.

“This partnership with Bulk Infrastructure is a perfect match for BGO,” said John Carrafiell, Senior Managing Partner and Co-founder of BentallGreenOak.

“BGO has been focused on the European logistics market since 2013, and, similar to Bulk’s own evolution, considers data centers to be a natural extension of the firm’s real estate investment strategy. Bulk Infrastructure’s commitment to building on the Nordic region’s natural advantages to deliver strong economic and environmental performance in real estate and infrastructure, is well-aligned with BGO’s own investment priorities.”

As disclosed, John Carrafiell will join Bulk Infrastructure’s Board of Directors, and Peder Nærbø, and his company Bulk Industrier, will continue to work actively within the company and remain the lead investor and Chairman of the Board.