Conapto AB: Conapto Gets $39M Debt Finance to Construct a New Stockholm Data Center

Apr 28, 2023 | Posted by Abdul-Rahman Oladimeji

Conapto, a Nordic data center operator, has secured nearly $40 million in debt financing to expand its presence in Sweden. After securing a $38.8 million debt financing from Kommunalkredit Austria AG, the investment firm Marguerite recently announced that its Swedish data center provider Conapto would increase its power capacity by 20MW. Kommunalkredit is a bank specializing in energy and infrastructure financing. The fund, according to Marguerite, will be used to finance the fit-out of the first phase of a new 86,100-square-foot data center in Stockholm, Sweden, which will be connected to the district heating network to recycle surplus heat generated by its operations.

In partnership with the real estate company Fastpartner, Conapto announced intentions for a new data center in Stockholm, Stockholm 4, in October 2022. The Stockholm 4 site will sustain an 86,100-square-foot data center and 20MW of power when fully developed; Phase 1 will consist of a 43,000-square-foot, two-story data center. The ground has been broken, and phase 1 was scheduled to go live in October 2023; however, a recent press release indicates that the launch date has been pushed back to March 2024.

Coromatic, an infrastructure provider for power supply and data communication, has been tasked with designing, constructing, and delivering the facility's mission-critical apparatus. The Conapto enterprise dates back to 1982 when Backupcentralen was founded. Sungard Availability Services acquired Backupcentralen in 2002. In 2018, Sungard AS sold its Swedish subsidiary to Segulah Fund V, which established Conapto. Last year, the European investment fund Marguerite bought the company.