Oslo / Helsinki, 31 August 2026
The Hämeenlinna project is a data centre development in southern Finland. The project has secured grid access, with physical connection currently targeted for the first quarter of 2029 and the possibility of acceleration to the second half of 2028.
Following the transaction, Magnora will own 100% of the Finnish project company and continue the development of the project under its full ownership.
“This is a significant milestone for Northern, and we are very pleased about the transaction and still be an owner of the project through ownership in Magnora. The transaction demonstrates the value that can be created by identifying attractive opportunities and systematically developing them into mature and investable infrastructure projects. Northern is growing and the company will now strengthen focus on its several larger scale data centres and Power-to-X projects in the Baltics and the Nordics. I would like to congratulate and thank the entire Northern team for an outstanding job,” says Jacob Stolt-Nielsen, Chairman of the Board of Northern Europe Energy Group AS.
The transaction is fully aligned with Northern’s strategy of originating and developing greenfield projects within energy and digital infrastructure. The company focuses on sectors in which access to renewable power, grid capacity, suitable land and strong local partnerships can create substantial long-term value.
“The development of the Hämeenlinna project demonstrates the importance and value of the work we do. We develop industry projects from greenfield opportunities with the objective of preparing them for long-term industrial operations with the right partners. Our core focus areas are large scale data centres and Power-to-X in the Nordics and Baltics,” says Thor Magnus Rovik, Chief Executive Officer of Northern Europe Energy Group AS.
Northern has established a substantial portfolio of data centre and Power-to-X projects in the Nordic and Baltic countries. The portfolio represents more than 4,000 MW of potential capacity and includes projects at different stages of development.
The completion of this transaction provides further validation of the company’s development platform and creates a strong foundation for future partnerships and transactions across its Nordic-Baltic portfolio.
Contact: Thor Magnus Rovik, CEO, tmr@northernenergy.eu
