Vesper Next Generation Infrastructure Fund I SCSp to Invest in Terakraft
Vesper Next Generation Infrastructure Fund I SCSp has decided to invest in Terakraft, a data center operator located in Norway that specializes in infrastructure for artificial intelligence (AI) and high-performance computing (HPC). This investment will make Vesper the majority owner of Terakraft, pending the necessary regulatory approvals. Alfredo Maria De Falco, the Founder and Executive Chairman of Vesper Infrastructure Partners, emphasized that this investment underscores the firm’s commitment to advancing the rapidly developing AI sector while fostering a more sustainable and secure infrastructure across Europe. He noted that Terakraft’s distinctive offerings, coupled with Norway’s advantageous energy conditions, provide an appealing proposition for clients in need of HPC capabilities.
Terakraft’s Upgraded Facility and Future Plans
Terakraft is currently refurbishing its facility in Sauda, which is undergoing significant technical enhancements. Once the upgrades are finalized, the site will deliver a power capacity of 10MW and will integrate liquid cooling systems specifically designed for high-density GPU workloads. The company aims to achieve performance levels equivalent to Tier III standards while ensuring connectivity to major cities in Europe, with a strong focus on energy efficiency and sustainability. Giorgio Sbriglia, CEO of Terakraft, stated that with Vesper’s support, the company intends to transform its data center into Europe’s leading Green AI Factory—a campus specifically designed for AI computing where energy consumption is converted into computing power.
Innovative Sustainable AI Solutions in a Renewable Energy Context
Founded in 2021, Terakraft is dedicated to developing, owning, and operating next-generation infrastructure specifically tailored for GPU-as-a-Service (GPUaaS) providers and other clients focused on AI. The low energy costs, sustainable energy sources, and cool climate of Norway enhance the site’s competitive advantage, making it an ideal location for energy-intensive computing operations. The facility operates on 100% renewable energy sourced from a nearby hydropower plant and utilizes lake-sourced water for its liquid cooling systems, which help lower both energy usage and carbon emissions. Terakraft is designed to achieve a top-tier Power Usage Effectiveness (PUE) while adhering to sustainable computing standards, thus meeting the technical and environmental, social, and governance (ESG) criteria of its AI infrastructure clients.
Addressing the Growing Demand for AI and HPC Solutions
The energy-efficient design of Terakraft’s data centers meets the significant power requirements of AI infrastructures while promoting sustainable computing practices and providing low-latency connectivity to European cities—essential for AI inference tasks. The company is poised to supply vital digital infrastructure during a critical juncture for the European economy. Livio Fenati, Founder and Managing Partner at Vesper Infrastructure Partners, remarked that the global demand for specialized AI infrastructure is on the rise, and this investment clearly reflects Vesper’s commitment to funding the development of next-generation infrastructure assets for the European marketplace.
Expansion Potential with Robust Local Resources
Beginning with the initial 10MW data center, Terakraft has the potential to expand by an additional 60MW adjacent to the current facility. The region where Terakraft is situated boasts abundant hydropower resources, which supports future growth. Presently, the local substation has a capacity of 1,000MW, allowing for positive energy exports through high-voltage lines to other parts of Norway and beyond through subsea cables.
