Norwegian renewable investment firm Magnora has started work on a new data center project on the western coast of Norway.

The company this week announced it has launched Magnora Scale Averøya, a new 100MW data center project in Kristiansund.

Timelines to develop the 120,000 sqm (1.29 million sq ft) site haven’t been shared.

Magnora is working with owners of Averøy Industripark and Tore Knapskog, who successfully developed and sold Tonstad DataPark to GreenScale.

Magnora will hold 70 percent of the shares in the new entity, Averøy Industripark 22.5 percent, and Torek AS the remaining 7.5 percent.

Kristiansund is a municipality on the western coast of Norway in the Nordmøre district of Møre og Romsdal county.

“This project offers a great opportunity to our target customers, it’s in an industry where time-to-market is decisive and liquid-cooled high-density capacity is critically undersupplied, and the Nordics stand out as an emerging region,” said Erik Sneve, CEO of Magnora.

Magnora was initially founded in 2001 and transitioned into a dedicated renewable energy investor in 2018, since investing in a number of wind, solar, and battery projects. The company recently acquired a majority stake in Norwegian data center developer Storespeed.

At the time of the acquisition, Storespeed operated a single colo facility in Halden, Norway, with an installed capacity of approximately 1MW and the potential to scale up to 5MW. The company has four data centers in development, totaling 45MW of planned capacity with the potential to scale to more than 150MW.

The company is also targeting data center development in Sweden, but hasn’t detailed any planned projects yet.