REG - 3i Infrastructure - 3iN plc invests in Lefdal Mine Datacentre

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RNS Number : 1293W  3i Infrastructure PLC  11 March 2026

 

 

3i Infrastructure plc invests in Lefdal Mine Datacenter
11 March 2026

 

 

3i Infrastructure plc ("3i Infrastructure" or the "Company") has agreed to
invest c.€300m to acquire a majority stake in Lefdal Mine Datacenter
("LMD"), a high-quality Norwegian data centre campus.

 

LMD is an operating data centre campus based on the west coast of Norway, with
37 MW operational capacity across its customer base, and a further 43 MW of
contracted capacity currently under construction, providing an attractive
earnings growth outlook. The company benefits from long-term,
availability-based inflation-linked contracts, providing strong revenue
visibility and protection. Customer stickiness is reinforced by their
substantial capital investment in hardware and bespoke infrastructure,
creating high switching costs.

 

The company benefits from Norway's low-cost and robust power supply, and the
company leverages its underground location and closed-loop seawater cooling
technology to deliver superior efficiency. LMD has substantial future growth
potential, with only one of its six mine levels currently utilised for
datacentre capacity.

 

LMD is being acquired from a fund managed by Columbia Threadneedle Investments. The largest investor in that fund will be reinvesting alongside 3i Infrastructure. A small portfolio of operating renewable assets is also being acquired as part of this transaction. 3i Investments plc, the Company's Investment Manager, will control the overall investment, which will total c.€400m.

 

Bernardo Sottomayor, Managing Partner and Head of European Infrastructure, 3i
Investments plc, Investment Manager of the Company, commented:

 

"We are delighted to be redeploying some of the proceeds from the TCR exit
into a high-quality asset like LMD. This transaction offers an attractive
risk/return profile, whilst further diversifying our portfolio into a new
subsector. The contracted existing capacity provides strong downside
protection, and we see attractive growth opportunities to create value. We
look forward to working with the management team to deliver a strong outcome
for 3iN."

 

Completion is expected in summer 2026.

 

Careful consideration is given to capital allocation decisions when
reinvesting the proceeds of €1,140 million expected from the TCR realisation
previously announced on 5 March. After fully repaying drawings on the
Company's revolving credit facility, and funding further growth in existing
portfolio companies, this acquisition redeploys part of these proceeds in a
new portfolio company. This investment diversifies the portfolio and is
expected to be clearly accretive to the Company's target return.

 

To provide greater flexibility in the timing of making new investment
commitments prior to receiving proceeds from the realisation of TCR, the
Company has activated the £300 million accordion in its revolving credit
facility bringing total committed credit facilities to £1.2 billion.

 

-Ends-

 

 

For information, please contact:

 

 Thomas Fodor           Shareholder enquiries  +44 20 7975 3469
 Kathryn van der Kroft  Media enquiries        +44 20 7975 3021

 

 

 

About 3i Infrastructure plc

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment
company, an approved UK Investment Trust, listed on the London Stock Exchange
and regulated by the Jersey Financial Services Commission. The Company's
purpose is to invest responsibly in infrastructure, delivering

long-term sustainable returns to shareholders and having a positive influence
on its portfolio companies and their stakeholders.

 

3i Investments plc, a wholly owned subsidiary of 3i Group plc, is authorised
and regulated in the UK by the Financial Conduct Authority and is the
investment manager of 3i Infrastructure plc.

 

 

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