H.I.G. Capital acquires majority stake in Polar
Oct 07, 2024 | Posted by Abdul-Rahman Oladimeji
Alternative investment firm H.I.G. Capital through one of its affiliates had acquired a controlling interest in PolarDC Group Limited, The investment firm said Polar's first data center in Norway will provide up to 48MW of capacity once fully operational – with 100 percent of its initial capacity pre-sold
Andrew Liau, co-head of H.I.G. Infrastructure, said: "We are extremely excited by this transaction as data center infrastructure is becoming an increasingly critical enabler of the next wave of digital transformation. We look forward to working with Polar's highly respected management team and our co-investor, Lian Group, by bringing H.I.G.'s extensive capabilities and relationships to support the company's growth."
DRA01, located on a 60,000 sqm (645,835 sq ft) plot in southeast Norway, reportedly has 12MW of IT load immediately available, with another 36MW in development. Polar said the site uses free cooling, with rear door heat exchangers or direct liquid cooling options for HPC. DAL01, located on a 19,000 sqm (204,515) plot 35km outside Bergen, reportedly has 20MW available with another 45MW in development. The site is said to be an existing industrial building previously used for manufacturing, and described as ready for fit-out for client needs. Polar said the site will use river cooling.
Andrew Liau, co-head of H.I.G. Infrastructure, said: "We are extremely excited by this transaction as data center infrastructure is becoming an increasingly critical enabler of the next wave of digital transformation. We look forward to working with Polar's highly respected management team and our co-investor, Lian Group, by bringing H.I.G.'s extensive capabilities and relationships to support the company's growth."
DRA01, located on a 60,000 sqm (645,835 sq ft) plot in southeast Norway, reportedly has 12MW of IT load immediately available, with another 36MW in development. Polar said the site uses free cooling, with rear door heat exchangers or direct liquid cooling options for HPC. DAL01, located on a 19,000 sqm (204,515) plot 35km outside Bergen, reportedly has 20MW available with another 45MW in development. The site is said to be an existing industrial building previously used for manufacturing, and described as ready for fit-out for client needs. Polar said the site will use river cooling.
