Osborne Clarke advises Terakraft in the investment by Vesper

The Vesper Next Generation Infrastructure Fund I SCSp investment fund has signed a binding agreement to acquire and invest in the share capital of Yfoss AS, a company currently wholly owned by Terakraft AS, thereby becoming its majority shareholder.

Founded in 2021, Terakraft is a Norwegian data centre operator specialising in infrastructure for artificial intelligence and high-performance computing (HPC). The company operates a data center that will be transferred to Yfoss AS as part of the transaction. Following a comprehensive renovation and upgrade programme, the data centre will offer 10 MW of capacity, with the potential to expand to an additional 60 MW.

Once completed, the facility will be one of the most sustainable and cost-efficient AI data centres in Europe: Terakraft's advanced design delivers best-in-class energy efficiency for its customers, aligning with the highest standards of IT sustainability and meeting both the technical and ESG requirements of AI infrastructure.

Osborne Clarke advised Terakraft and I key managers with a team led by partner Andrea Pinto, Head of Financial Services, and partner Luca Saraceni, a recent addition to the firm who strengthens the private equity practice in Italy. The former handled the finance aspects, together with associate Attilio Valguarnera, while the latter provided assistance on corporate matters, together with associate Alessandra Mioni.

Advokatfirma Tofte Hald AS advised Terakraft on Norwegian law aspects.

Greenberg Traurig advised Vesper.