Azrieli and Green Mountain sign data storage agreement with TikTok
Azrieli and its data centre business Green Mountain, a wholly owned subsidiary, have signed a hyperscale data centre agreement with TikTok to support its increasing data storage and processing needs in Europe.
DLA Piper advised Israel’s real estate group Azrieli, which bought Norwegian data center company Green Mountain in 2021 for appx. USD 850 million.
A total of up to five data centre buildings with a combined capacity of 150MW are planned at the site, which would become Norway’s largest data centre campus.
The first building is scheduled for completion by November 2023. The site will be built and operated according to Green Mountain’s high sustainability standards, including the use of renewable power, certified green buildings and potential heat reuse projects.
