Setterwalls advised EQT-owned EdgeConneX on strategic Swedish data centre acquisition with potential capacity of up to 1 GW

Setterwalls has acted as legal advisor to EdgeConneX, backed by EQT Infrastructure, in connection with its strategic entry into the Swedish market through the acquisition of a data centre site in Skellefteå, as well as in relation to the full financing of the project.

The project forms part of EdgeConneX’s broader European digital infrastructure expansion strategy. The site is planned to be developed into a large-scale data centre facility with potential capacity of up to 1 GW, which upon full development could become one of Europe’s largest data centre facilities powered predominantly by renewable energy.

The planned development represents hyperscale-level digital infrastructure capacity in the Nordics, driven by increasing demand for cloud services, AI workloads and energy-integrated industrial ecosystems.

Setterwalls’ advisory work included transaction structuring, legal due diligence, negotiation and documentation of the acquisition, and comprehensive legal advice in connection with the project financing, including financing structure, security arrangements and related regulatory considerations.

“Large-scale digital infrastructure projects increasingly combine industrial, energy and financing complexity. We are pleased to have supported EdgeConneX in this strategically important step into the Swedish market,” says Jonas Frii, Partner at Setterwalls.

The Setterwalls M&A team was led by Jonas Frii, Partner, and included amongst others Bruno Neumann, Jesper Olsson, Axel Berg, Sara Eriksson, Malin Stenström, Jonathan Lindström, Ebba Olsson, and Fredrik Banke.

Setterwalls’ finance team was led by Marcus Olausson, Partner, and included Jesper Kuschel, Partner, Kenneth Nilsson and Hugo Johansson.