Magnora Data Center ASA acquires 50% stake in joint venture with Sunly to develop up to 400 MW data center in Risti
Magnora Data Center ASA has agreed to acquire a 50% interest in the Risti Kampus data centre project, a joint venture with the Estonian renewable energy group Sunly. It comes with 180 MW of grid capacity available today and a planned expansion to 400 MW.
European renewable-energy group Magnora Data Centre is a spin-off from Magnora ASA, an international conglomerate operating in Norway, Sweden, South Africa, Italy and the United Kingdom. It has listed separately in June 2026.
The company has been on a massive expansion spree, with Estonia now entering its investment orbit. The investor will finance half of a campus built beside the hybrid energy park Sunly is developing at Risti in western Estonia. The park pairs 244 MWp of solar with 144 MW of battery storage and 44 MW of wind, writes Sunly.
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Originally published on 18 Sep
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At present, the contractor consortium Femern Link Contractors (FLC) is testing the special vessel that will immerse the tunnel elements for the Fehmarnbelt tunnel. Over the weekend, the unique immersion pontoon IVY 1 & 2 carried out the first test of connecting the vessel to a completed tunnel element.
The immersion pontoons are currently located in the large Danish work harbour on Lolland, with the first tunnel element secured between the two units. The initial phase of testing has already been successfully completed and includes, among other things, confirming that all functions operate correctly – both when IVY 1 & 2 are operated separately holding a standard element secured in between, and when they are operated as a combined vessel.
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Originally published on 3 Mar
The Finnish technology company Insta, specializing in defence solutions and cybersecurity, and the Ukrainian supplier of robotic platforms Tencore have agreed on extensive Build With Ukraine joint production initiative, cooperation and the development of military technology.
According to the agreement (Memorandum of Understanding), Insta and Tencore will advance and explore the localization of production of unmanned TerMIT UGV ground vehicles in Finland. This includes manufacturing, assembly, and supply chain development. The agreement also covers joint product development related to integrating AI and autonomy solutions combat or military platforms
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Originally published on 26 Feb
Marine Technology, part of the Western Shipyard Group and a specialist in large-scale cable-handling equipment for the global energy and marine sectors, is investing €15 million to expand its manufacturing operations at Klaipėda Seaport. The expansion will add advanced robotic welding capabilities and modernized production facilities, enabling the company to scale up output of modular and composite equipment for offshore and onshore renewable energy projects.
As part of the Western Shipyard Group, Marine Technology operates within a well-established maritime engineering ecosystem. The group itself is part of BLRT Group, a Baltic industrial holding with more than a century of heritage, over 25 subsidiaries, and 3.500 employees across the region.
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Originally published on 3 Mar
The Ministry of Justice and Digital Affairs has launched a full-service offering for institutions and companies developing AI solutions, ensuring that the system being created is legally compliant, technically secure, and trustworthy. The AI & Robotics Estonia centre (AIRE), based at TalTech, is responsible for conducting the initial risk classification assessment of projects.
AIRE’s client relations manager Evelin Ebruk noted that AIRE acts as an advisory partner, helping developers understand the risk class of their AI solution under the EU AI Act.
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Originally published on 27 Feb
Estonian-based Bigbank AS has signed a synthetic securitisation transaction with the European Investment Bank Group, comprising the European Investment Bank (EIB) and the European Investment Fund (EIF). The transaction, which is the first synthetic securitisation transaction for the Bigbank, will support new lending to small and medium-sized enterprises (SMEs) and mid-caps in Estonia, Latvia and Lithuania, with a particular focus on micro-enterprises, young companies and environmentally sustainable investments.
Under the agreement, the EIF is providing Bigbank with a financial guarantee covering a reference portfolio of more than €210 million, consisting of loans, credit lines and leases. The guarantee provides credit risk protection on a senior tranche of €184.3 million and a mezzanine tranche of €23.1 million. The EIF’s exposure to the mezzanine tranche, as well as part of its exposure to the senior tranche, is counter-guaranteed by the EIB. Bigbank retains the junior tranche of the portfolio, amounting to approximately €2.6 million.
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Originally published on 2 Mar
The Future Expert Launchpad (FELP) aims to support the employment and skills development of highly educated international professionals, graduating students, and individuals seeking new career directions. FELP offers participants the opportunity to work on genuine, market‑driven projects and strengthen their expertise through hands-on collaboration.
Demola is a Finnish company with 15 years of experience in new concept development and co-creation. Its globally operating innovation platform brings together talent and real business needs.
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Originally published on 2 Mar
Hydrogen Cluster Finland welcomes further progress in bilateral relations between Finland and Germany, and the signing of a Joint Declaration of Intent on hydrogen economy collaboration between the two countries, signed by Germany’s Federal Minister for Economic Affairs and Energy Katherina Reiche and Minister of Climate and Environment Sari Multala on Wednesday.
The Joint Declaration presents Finland and Germany’s shared vision for cooperation on hydrogen infrastructure, hydrogen technology development, and investments in the sector. The Declaration is a strong signal of the need for cross border collaboration to secure investments in the hydrogen economy. Hydrogen economy value chains are never local – they are always international and therefore benefits of investments are shared across companies, countries and geographies.
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Originally published on 19 Feb
Baltic Power, a joint venture offshore wind project of ORLEN Group and Northland Power, completed the main installation works of all 78 key elements of foundations – monopiles for turbines and offshore substations. Over 20 vessels and 500 crew members and contractor representatives took part in this part of the installation campaign.
Installation of offshore foundations is an enormous challenge; we performed a campaign that was unpreceded in Poland in terms of scope and scale of works. Vessel crews operated precisely with heavy loads, reaching 1300-1700 tons and 100 meters in length. Therefore, multiple operations were a single-attempt work leaving no space for mistakes. Moreover, they were performed in challenging sea and weather conditions. That’s why it is such a noticeable milestone and a moment of pride for all of us – comments Maciej Stryjecki, CEO and the President of the Management Board of Baltic Power.
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Originally published on 18 Feb
European Investment Bank (EIB) have launched a cooperation to increase the availability of affordable and high-quality housing in Estonia. The aim is to develop a financing solution that helps mitigate the risks faced by private-sector developers outside major cities as well.
“Estonia is not just Tallinn. About a third of Estonia’s population lives outside Harju, Tartu and Pärnu counties, yet only up to two percent of new dwellings are built there,” said Minister of Infrastructure Kuldar Leis. “For developers, the risks are simply too high. This hampers labour mobility and regional development. Cooperation with the EIB helps bring modern rental housing to smaller centers. The aim is to arrive at a solution where state intervention is minimal and housing development can function as market driven as possible.”
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Originally published on 17 Feb
At the beginning of this year, two new container cargo lines have started operating in the Port of Riga. The ships of the British company Ellerman City Liners will connect the Port of Riga with the ports of Gdynia, Teesport, Tilbury and Rotterdam. Meanwhile, ships of the leading international sea container carrier company Hapag-Lloyd will operate on the route Wilhelmshaven-Hamburg-Klaipeda-Riga-Rauma-Helsinki-Wilhelmshaven. Vessels of both shipping lines will call the Port of Riga once a week.
Hapag-Lloyd is one of the world’s top global container shipping companies. Its fleet boasts 305 modern container ships with a total transport capacity of 12.5 million TEUs (20-foot container units) per year. The company employs 17,400 employees in more than 400 representative offices across 140 countries. The strategic addition of the Port of Riga to Hapag-Lloyd’s extensive network provides clients with faster, more reliable delivery solutions and enhanced global connectivity. This integration makes it easier to reach more international destinations directly from Riga.
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Originally published on 17 Feb