Norwegian renewable investment firm Magnora has acquired land in Norway for a planned data center.

The company this week said it had secured “attractive land” in northwestern Norway for a new 100MW data center development project.

Few details were shared, but the acquired site is adjacent to a substation and close to three 420kV power lines.

Magnora said it was working with Finansgruppen Eiendom and Anders H. Schau on the project. Magnora will hold 60 percent of the shares in the development, with an option to increase further as the project matures.

“The project is a great addition to our portfolio, and it also proves the strengths of a collaborative business model,” said Erik Sneve, CEO of Magnora. “A succession of municipalities and property developers have approached Magnora with high-quality opportunities. Our ability to operate data centers, engage with customers, and guide the development of energy-related assets has proven to be highly attractive.”

FG Eiendom is a Norwegian property developer that has developed various industrial, office, and residential sites across the country.

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.

In December, the firm announced work had started on a 100MW data center project on the western coast of Norway in Kristiansund. It has also announced plans for a 120MW project in Hämeenlinna, Finland.

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