Mar 14, 2026 | Posted by Abdul-Rahman Oladimeji
Investment firm 3i Infrastructure has agreed to acquire a majority stake in Norway’s Lefdal Mine Datacenter (LMD). Announced this week, 3i plans to invest €300 million ($347.3 million) in the deal, which is expected to close in summer 2026.
The data center company is being acquired from a fund managed by Columbia Threadneedle Investments, with the fund’s largest investor set to reinvest alongside 3i Infrastructure.
First announced in 2015 and opened in 2017, Lefdal Mine Datacenter is potentially Europe’s largest data center by floor space, offering up to 120,000 sqm (1.3 million sq ft) across 75 underground halls, though most of the former olivine mine caverns remain unused.
3i said Lefdal has 37MW of operational capacity across its customer base, and a further 43MW of contracted capacity currently under construction.
“The company benefits from Norway’s low-cost and robust power supply, and the company leverages its underground location and closed-loop seawater cooling technology to deliver superior efficiency,” 3i said. “LMD has substantial future growth potential, with only one of its six mine levels currently utilized for data center capacity."
London Stock Exchange-listed 3i Infrastructure is a Jersey-incorporated investment company focused on infrastructure assets. Its portfolio includes investments in German fiber provider DNS:NET, subsea cable company FLAG, Norway’s Tampnet, and several energy and utility firms across Europe.
Bernardo Sottomayor, managing partner and head of European infrastructure, 3i Investments plc, investment manager of the 3i Infrastructure, said: “This transaction offers an attractive risk/return profile, whilst further diversifying our portfolio into a new subsector. The contracted existing capacity provides strong downside protection, and we see attractive growth opportunities to create value. We look forward to working with the management team to deliver a strong outcome for 3iN.”
