Nordic data center operator atNorth on October 5, 2026 announced plans to develop FIN05, a new data center in Salo, Finland. The company expects to invest approximately €2 billion in the 28.6-hectare site, where power for a planned 75 MW first phase is secured, with a path to up to 230 MW for the wider development.
Site Specifications and Investment Plans
atNorth said Salo offers a strong location for critical infrastructure serving customers with demanding requirements for connectivity and resilience. The company cited the city’s proximity to Helsinki and Finland’s digital talent pool as further factors supporting the development, and framed FIN05 as part of its ongoing objective to meet demand for high-performance digital infrastructure in what it described as a responsible way.
The site will connect through a Fingrid substation. The company’s expected €2 billion investment does not include servers owned by customers or their installation, which atNorth estimates could represent a further investment of up to €10 billion.
The company plans to enter long-term power purchase agreements with local energy suppliers to support energy production in the region, alongside flexibility solutions that it said could support the efficient operation of Fingrid’s transmission grid. atNorth will also work with local stakeholders to explore opportunities to make use of heat generated by the data center, which the company said is intended to help create value beyond the facility itself. That effort builds on existing heat reuse collaborations with Kesko Corporation in Finland, Stockholm Exergi in Sweden, and Vestforbrænding and Selected Group in Denmark.
Statements From atNorth and Local Partners
“FIN05 is an opportunity to develop critical digital infrastructure while working with the region to create lasting local value,” said Eyjólfur Magnús Kristinsson, CEO of atNorth. He said the company is exploring how local energy partnerships, flexibility solutions and heat reuse can contribute to the wider energy system and community, and looks forward to working with Salo and regional partners as the project develops.
Anna-Kristiina Korhonen, Mayor of Salo, said she was delighted to welcome the investment to the region. She said the new data center will create valuable employment opportunities during both construction and ongoing operations while generating wider economic benefits for local businesses, adding that the development strengthens Salo’s position as an attractive destination for innovative industries and supports sustainable long-term growth for the community.
Matti-Juho Ervasti, Partner at Regant Oy, said the project demonstrates Salo’s potential as a location for major digital infrastructure investment. He said Regant worked closely with atNorth and the municipality to provide a development-ready site with the scale, planning readiness and power roadmap needed for large data center projects.
Nordic Pipeline and Ownership Background
atNorth described FIN05 as part of its continued investment across the Nordics, alongside developments in Stockholm and Sollefteå in Sweden, Haugaland in Norway, Ølgod in Denmark and Kouvola in Finland.
The Kouvola project, FIN04, was announced in December 2023 as a mega site on a 21-hectare plot 139 km northeast of Helsinki and 52 km from the city of Hamina, catering to both colocation customers and build-to-suit projects. atNorth said at the time that FIN04 would have an immediate power supply of 60 MW, a first phase ready for operation in the second half of 2025, and a path to power of several hundred megawatts when fully built, describing it as the company’s tenth data center in the Nordics and its fourth campus in Finland. Working with the city of Kouvola and energy partner KSS Energia, the site was designed with heat reuse capabilities enabling excess heat from the data center to be recycled for possible reuse within the local community.
The Salo project also follows a change in atNorth’s ownership. CPP Investments and Equinix completed the US$4 billion acquisition of atNorth on September 2, 2026, with CPP Investments holding a c. 51% controlling stake on a US$1.3 billion commitment, Equinix holding c. 34% on a US$895 million commitment, and Partners Group holding c. 10% on a US$260 million commitment. The remainder is held by atNorth’s internal stakeholders, who rolled over a substantial portion of their equity. The transaction involved a US$4.1 billion (€3.6 billion) financing package underwritten by a group of European and Canadian lenders, and atNorth continues to operate independently under its existing brand.
