Release date: 9 March 2023
Promoter – Financial Intermediary
ATEA ASALocation
Description
The project concerns: (i) the capacity expansion of existing data centres located in Sweden, Denmark, Finland and Lithuania; (ii) the modernisation and harmonisation of the global company IT platforms; (iii) the investments to increase the efficiency and service offered by the new logistics centre in Sweden. These investments will increase the capacity and efficiency of the company in order to improve the IT service delivery to the mostly public customers.
Additionality and Impact
The project supports Europe in its efforts to foster its competitive position in the IT infrastructure and services business and therefore contributes to the targets of the EU Digital Compass target, that by 2030, 75% of EU companies shall be using Cloud/AI/Big Data, by providing the underlying infrastructure.
The outcome of the project will furthermore lead to economic benefits, as it will address issues related to cyber-security. Finally, this project addresses the market failure related to the under provision of cybersecurity which in general has a public good nature.
The promoter is experienced in the design and operation of data centres, in IT logistics and IT application development. It has also an experienced management team and in-depth understanding of market needs and drivers, which will support project implementation, results delivery and address the market failures.
Moreover, the project is expected to have a positive impact on other sectors of the economy, contributing to sustainable growth, innovation and competitiveness in Europe, resulting in an Economic Rate of Return (ERR) which is Very Good.
EIB's contribution to the project stems from the combination of a financial advantage, long tenor, flexible terms of the loan, and helping to crowd-in other financiers, thereby facilitating its full financing and implementation.
Objectives
Once the project will be implemented, the company will profit from a higher capacity in its Swedish logistics centre, modern IT applications for the internal operation but even more so for the servicing of the customers and finally also a higher data centre capacity to cope with the strongly growing demand.
Sector(s)
- Services - Information and communication
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 103 million
Environmental aspects
The investments will concern software development and the capacity expansion of existing data and logistics centres. Therefore, it is unlikely that the project will fall under the Annexes of the Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by Directive 2014/52/EU. Still the environmental details will be assessed during the appraisal.
Procurement
The promoter has been assessed by EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement.
Status
Signed - 26/04/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).