Pure DC Secures €1.3 Billion in Senior Debt for Finnish AI Campus

European data center developer Pure DC has secured €1.3 billion ($1.48 billion) in committed senior debt to fund the first phase of its massive AI-focused campus in Seinäjoki, Finland. The financing, announced this week, marks a significant step in the company’s expansion across Europe and the Middle East.

The debt facility, provided by a syndicate of five leading global banks including SMBC, ABN AMRO, Citi, Societe Generale, and Natixis CIB, will support the initial 110-megawatt (MW) phase of the project, known as SJK01. The total investment for this first phase is expected to exceed €1.5 billion ($1.71 billion). At full build-out, the campus has the potential to scale to 550MW, representing a total investment of more than €7.5 billion ($8.6 billion).

Located in Seinäjoki, the regional capital of South Ostrobothnia in western central Finland, the site covers a 22.3-hectare plot that Pure DC purchased from the city earlier this year for €3.86 million ($4.55 million). The company plans to construct three data center buildings on the property. Phase I of the campus is already fully leased, reportedly to Microsoft, with the substation for the first data hall constructed and live. All necessary planning permissions and power requirements have been secured.

“This latest financing marks another important milestone for Pure DC as we accelerate delivery of one of Europe’s largest AI infrastructure campuses in Seinäjoki,” said Gary Wojtaszek, executive chairman and interim CEO of Pure DC. “The confidence shown by leading global lenders reflects the strength of our platform, the quality of our customer relationships and the scale of the opportunity ahead. With more than $4.2 billion secured over the past 12 months, we are building the financial capacity and operational momentum to support the next phase of AI and hyperscale growth across Europe and the Middle East.”

Mike Schwartz, CFO of Pure DC, added that securing the €1.3 billion in committed senior debt, alongside the expansion of the company’s MLA group to five institutions, demonstrates both the quality of the asset and the appetite for Pure DC’s growth strategy. He noted that the speed and discipline of the execution, aligned with the full leasing of Phase 1, further strengthens the company’s funding base and provides greater flexibility to advance its pipeline at pace.

The new financing brings Pure DC’s total secured capital to more than $4.2 billion over the past year. In May, the company secured $2.7 billion in financing, including a $2.15 billion facility against its Dublin and Amsterdam campuses, alongside an increase in its corporate-level financing to $550 million. Founded in 2015 and backed by funds managed by Oaktree Capital Management, the London-based company currently has more than 500MW of IT capacity in operation or development across Europe, Asia, and the Middle East. Its project portfolio includes sites in London, Paris, Amsterdam, Dublin, Abu Dhabi, Madrid, Jakarta, and Seinäjoki.