Linklaters has advised Frux Capital, as financing partner to the European private markets and real estate manager FREO Group, in connection with the financing of a major data centre project. The data centre in northeastern Germany is expected to have a long-term grid connection capacity of up to one gigawatt.
As investor and operator, Schwarz Group intends to achieve an initial computing capacity of 240 megawatts (MW) in the first development phase, with an investment volume of approximately €5.6bn by 2033. By 2045, the data centre could be expanded in a second phase to reach a total power capacity of up to one gigawatt. The Schwarz Group, parent company of Lidl and Kaufland, is one of Germany’s leading private investors in digital infrastructure.
FREO’s initial development phase of the site included, in particular, the acquisition of the land and the securing of the required grid connection capacities. The region offers extensive renewable energy generation capacity, which can be used to supply the data centre with electricity. With a potential power capacity of up to one gigawatt, the project ranks among the largest planned data centre developments in Europe.
Fabian Neumeier, Counsel in Linklaters’ Banking practice, said:
“We are delighted to have advised Frux Capital on all legal aspects of this landmark transaction. The project highlights the significant potential for alternative financing solutions in supporting data centres and other AI infrastructure projects at an early stage of development.”
Linklaters advised Frux Capital with an international, cross-practice team spanning banking, real estate, energy, corporate and tax law.
Linklaters advised with an international cross-practice team led by Fabian Neumeier (Counsel, Banking, Frankfurt), Barbara Rybka (Managing Associate, Real Estate, Munich) und Matthias Horváth (Associate, Banking, Frankfurt).
Other team members included Jens Hollinderbäumer (Partner, Energy/M&A, Berlin), Przemyslaw Lipin (Partner, Banking, Frankfurt), Antoine Charvet (Partner, Tax, Luxembourg), Patrick Geortay (Partner, Capital Markets & Banking, Luxembourg), Francisco Sainz-Trapaga (Partner, Banking, Madrid), Guido De Wit (Partner, Tax, Brussels), Julia Sack (Counsel, Corporate/M&A, Berlin), Christopher Bremme (of Counsel, Corporate/M&A, Berlin), Adien Piron (Senior Managing Associate, Tax, Luxembourg), Laurent Benoit (Senior Managing Associate, Capital Markets & Banking, Luxembourg), Johannes Gottwald (Managing Associate, Banking, Hamburg), Dr. Alexander Zitzl (Managing Associate, Tax, Munich), Evgeny Tikhomirov (Managing Associate Capital Markets & Banking, Luxembourg), Javier Martinez (Managing Associate, Banking, Madrid), Ana Isabel Mozo (Managing Associate, Financial Regulation, Madrid), Christoforos Naziroglou (Associate, Capital Markets & Banking, Luxembourg), Felix Kolbe (Associate, Real Estate, Munich), Julia Tolmach (Associate, Real Estate, Frankfurt), Thomas Croizé (Associate, Tax, Luxembourg), Thomas Lingemann (Associate, Environmental & Planning Law, Berlin) and Victoria Munt (Associate, Capital Markets, London).
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