DLA Piper advise Azrieli and Green Mountain on hyperscale data centre deal with TikTok
DLA Piper has advised Azrieli and its data centre business Green Mountain, a wholly owned subsidiary, in relation to a hyperscale data centre agreement with TikTok to support its increasing data storage and processing needs in Europe.
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.
The DLA Piper team was led from its Dublin office by Head of Intellectual Property & Technology in Ireland, Mark Rasdale, Corporate Partner Edel O’Kelly, and Finance, Projects & Restructuring Legal Director Liam Mills. Real Estate Of Counsel Heather Srimal in the US and Real Estate Partner Magnus Løvlien Lutnæs in Norway were also part of the client team for the deal alongside CMS Kluge.
Commenting on the transaction, Mark Rasdale said “We are very pleased to be involved in this deal, which is a significant step for the Azrieli and Green Mountain data centre business and is a core part of the TikTok data governance strategy for Europe, complementing its expanding operations in Ireland.”