Bonum's data centre investment with major acquisition in Finland

Arcem has entered into an agreement to purchase a 800-acre plot to be used for a data centre.

Bonum's platform for data centre development, Arcem, has signed an agreement with Joroinen municipality in eastern Finland to purchase a plot for a data centre project. The project has potential for 500 MW power and development capacity. The first development phase of 60 MW will be available from 2027. This will be followed by a further increase to 100 MW by 2029.

According to Arcem, the agreement was signed on Thursday, by unanimous decision in Joroinen municipal council. The company has been working on developing the plot for over a year, through a reservation agreement with the municipality. The property is zoned for data centre use, and the building permit for the first phase is expected to be in place by summer.

Power hub

The plot is located directly adjacent to Fingrid's existing 400/110 kV transformer station at Huutokoski, a central hub in Finland's transmission network. In addition to the plot being purchased from the municipality, Arcem has secured neighbouring plots for future expansion. The total area is approximately 800,000 square metres.

In Joroinen, we have developed a clear path to power connection and construction start, through a structured process with the municipality, local grid company and Fingrid. The area is accessible in under three hours by car from Helsinki via a four-lane motorway, has railway at the plot and also a local airport nearby. This makes it attractive for a broad spectrum of tenants, says Anders Bakken Eriksen, CEO of Arcem.

One of the Nordic region's largest

The project, which has a potential of over 500 MW, could become one of the largest data centre campuses in the Nordic region. Bonum writes in a statement that the scale is particularly relevant in a market where demand for AI and HPC capacity is increasing sharply, whilst access to large plots, power and viable grid solutions has become a decisive competitive advantage.

The project is positioned for AI infrastructure, hyperscale customers and regional customers with storage needs on Nordic and European soil. 

In today's market, there are two things that matter most: time to market and scale. Our project in Joroinen delivers both. This is one of several projects we are working on in Finland, and forms part of a broader Nordic platform we have built up over a longer period, says Bakken Eriksen.

Finnish implementation strength

Arcem believes the Finnish approach to business development and industrial initiatives has been an important part of the background for the investment. The process in Joroinen has been characterised by rapid clarifications, close dialogue and a high degree of collaboration between municipality, grid company and other authorities.

We have experienced Finland as highly professional, predictable and solution-oriented. The municipality's administration, local politicians, Fingrid and other Finnish public actors have contributed to a collaborative climate that makes it possible to develop large industrial projects with both pace and quality. That deserves great recognition, says Anders Bakken Eriksen.

About Bonum and Arcem

Bonum is an established, privately owned property and infrastructure-focused development company with a strong track record in centrally located residential development in the Oslo area. The company now works with residential, commercial property and data centre development in the Nordic region. 

Arcem is Bonum's Nordic data centre platform. The company develops large-scale data centre opportunities with access to power, land and viable grid solutions: critical input factors for the next generation of digital infrastructure.

Arcem works with projects in Norway, Finland and the rest of the Nordic region, aimed at AI infrastructure, HPC, hyperscale operators and regional customers with needs for secure, scalable and energy-efficient data capacity on Nordic and European soil. The company combines Bonum's experience from property and project development with specialist expertise in power, regulation, land acquisition and industrial data centre development