Hämeenlinna, Finland - January 8, 2026 - Norwegian renewable energy investor Magnora ASA has acquired a majority stake in a planned 120MW data center project in Hämeenlinna, strengthening its push into large-scale digital infrastructure across the Nordic region. The project, located in southern Finland between Helsinki and Tampere, is being developed in partnership with Northern Europe Energy Group (NEEG).
Under the agreement, Magnora will hold a 70% stake in the joint venture, while NEEG retains the remaining 30%. The development is planned for a 150,000-square-meter site within the MORE Industrial Park in Hämeenlinna, an area already zoned and prepared for industrial use. The site benefits from proximity to power substations, access to major fiber routes, and favorable ground conditions, positioning the project to reach a ready-to-build stage by the end of 2026.
The facility is being designed as a high-density, AI-ready data center with a total planned capacity of 120MW, targeting hyperscale and advanced compute workloads. Developers have highlighted the potential to integrate waste heat recovery into Hämeenlinna’s district heating network, aligning the project with Finland’s broader sustainability goals and the Nordic region’s reputation for low-carbon digital infrastructure.
Magnora said the investment builds on its growing data center portfolio and reflects increasing demand for AI and cloud capacity in Northern Europe. The company brings financial strength and industrial development experience to the project, while NEEG will continue to lead much of the local development and execution work. The partnership has received support from municipal stakeholders, who see the project as a driver of economic activity and technology-led growth in the region.
Representatives from the City of Hämeenlinna have publicly welcomed the development, citing its potential to create jobs, attract international investment, and reinforce the city’s position within Finland’s expanding data center ecosystem. Local authorities have indicated a willingness to support an efficient permitting process to help advance the project on schedule.
The Hämeenlinna project marks Magnora’s third major data center initiative in the Nordic market. The company has previously taken positions in a 100MW data center project on Norway’s west coast and acquired a majority stake in Norwegian data center developer Storespeed, signaling a long-term strategy to build a diversified portfolio of digital infrastructure assets.
Finland continues to attract strong investor interest as a data center destination due to its stable grid, abundant low-carbon energy, cool climate, and robust connectivity. Industry estimates suggest Finland’s live data center capacity could grow several-fold by the end of the decade as AI, cloud, and enterprise demand accelerates across Europe.
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