Earlier this year another such contract was finalised, so this is a major business expansion in a short time
Landsvirkjun has signed a new two-year electricity contract, to support continued growth of atNorth data centres. Earlier this year another such contract was finalised, so this is a major business expansion in a short time. atNorth is 100% owner of ADC ehf., a Landsvirkjun customer for many years. Employing around 50 people, in addition to a number of contractors, their annual turnover exceeds 6 billion ISK. Most of their operations are in Iceland, but at the end of the year they plan to open a data centre in Stockholm, where heat from the computer equipment will be used for space heating.
The data centre, which has grown rapidly in recent years, is among the largest in Europe and is located close to Keflavik International Airport. The electricity contract enables atNorth to meet a constantly increasing demand for supercomputer power and specialist services in blockchain technology. In line with increased demand, the part of the data centre guaranteeing maximum operational security was recently expanded, meeting the strictest security criteria. These conditions are a prerequisite for servicing market-leading international companies that use supercomputers, for example in the field of artificial intelligence and for compute-intensive companies in science and research. Future market expansion will focus increasingly on such projects.
Iceland is ideal for data centre operations, with predictable electricity prices, renewable energy resources and a cold climate that minimises the cost of cooling computer hardware.
Hörður Arnarson, CEO of Landsvirkjun:
"The data centre industry is growing rapidly worldwide, and neighbouring countries are competing to attract such activity. Collaboration with atNorth has been excellent, and the new electricity contract is on internationally competitive terms. Demands for sustainability in companies' operations are increasing, and electricity from renewable resources gives customers a definite edge. It is gratifying that atNorth's operations are going well and can support the company's continued growth. Our existing power supply system will provide the data centre with electricity, and the operation of the data centre in Iceland has led to improved utilisation of the electricity network, which is welcomed."
Eyjólfur Magnús Kristinsson, CEO of atNorth:
"Great opportunities exist in the diverse range of services that we have developed in our data centres in Iceland. Recently there has been great interest in data centre services that adhere to strict operational and safety standards, and this has led to major projects for us. Our current customers have been expanding considerably, but we have also been aware of increased demand from new parties in the last year. If the current trend continues, there will be no lack of new development projects connected to our secure data hosting services, here and abroad."