Thursday, 19th September 2019

The Node Pole expands in three dimensions

Large energy companies to acquire The Node Pole in its entirety.

Two of Sweden’s largest energy companies, Vattenfall and Skellefte? Kraft, are to acquire The Node Pole. The news was unveiled at a press conference called by the Swedish data center & cloud investment cluster. With the new backers onboard, The Node Pole plan is to expand geographically, to widen the offering to include also other energy intensive industry investments – and to scale The Node Pole’s market offering accordingly.

The news was unveiled during a joint press conference in the city of Lule? in Northern Sweden, in close vicinity to where Facebook and Hydro66 among others have established their data centers.

“Today’s news is the ultimate proof that our vision has been right all along”, says The Node Pole Chairman Peter Ericson. “We now see the largest benefactors from these types of investments gearing up and also wanting to be proactive in building a long term investment climate and development cluster upon our supreme basic conditions.”

The joint announcement concludes that the parties are now in the midst of finalizing negotiations where Vattenfall and Skellefte? Kraft acquire the Node Pole in its entirety. The goal is to make the organization part of or an even larger plan outset by the energy companies – establishing Sweden as first choice in Europe for all kinds of industries in need of stable long term access to cheap and sustainable energy.

The acquisition deal correlates with an expected tax reduction for data center energy provision in Sweden, lowering data center taxes to the same levels as other energy intensive industries. These lowered tax rates are expected to pass in the Swedish Government budget due through congress in early December of this year. Basic energy prices are also particularly favorable in northern Sweden, enjoying an approximate 1,400 MW energy abundance, enough to facilitate a competitive energy pricing for investors also over the long term.

Deal approval from government authorities is expected to be in order within the next two months. According to current plans, the new owners will attain full ownership as of January 2017, and while the exact details and organizational implications of the upcoming deal are yet to be announced, the task mapping out new investor possibilities from this deal begins immediately.

“Today’s news means we can execute our strategy, and also strengthens the opportunities for current and coming investors as well as the Swedish investment climate in its entirety”, Peter Ericson concludes.

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