AtNorth, the Nordic data centre operator, has secured about 290 million dollars in credit facilities, the company said, as its development pipeline across Iceland and the Nordic mainland passes 1 gigawatt of capacity.
The Nordic pitch remains power and climate: hydro, geothermal and wind PPAs at prices the grid constrained markets of Virginia, Frankfurt and London cannot match, with cold air doing part of the cooling work. The constraint has moved from power to permission and construction capacity, which is what revolving credit at this scale is for, funding sites through the permitting valley before hyperscale leases attach.
The raise is one of three data centre financing items in this edition’s wider coverage, and the pattern holds across all of them: the money is available, at scale, for operators with power secured, and scarce for everyone else.