02 December 2020

Amber Infrastructure Group (‘Amber’), the specialist international infrastructure investment manager, is pleased to announce that the Three Seas Initiative Investment Fund S.A. SICAV-RAIF (‘3SIIF’, ‘the Fund’) has made its first digital infrastructure investment, acquiring a controlling interest in Greenergy Data Centers OÜ (‘Greenergy’), a CEE data centre platform.

Greenergy will develop much-needed infrastructure across the Three Seas region to meet the growing compute, storage and connectivity needs of enterprises and consumers. Greenergy plans to develop a number of data centre projects in the Three Seas region over the coming years, with the Greenergy platform servicing the growing needs of customers across the CEE region in an otherwise under-supplied market for such infrastructure. 

The first data centre will be developed in Estonia through MCF Group Estonia OÜ (‘MCF’). When construction has completed in 2021, MCF will deliver a world-class data centre with up to 20MW of capacity to the Baltic market. Estonia has one of the highest cloud penetration rates for enterprises in Europe and the government is also a strong supporter of digitalisation with many supporting initiatives. 

Telecoms and technology executive, Mr Üllar Jaaksoo, has been appointed CEO of the company and will also invest alongside the Fund as one its shareholders.

Greenergy CEO, Üllar Jaaksoo, said: "The first Greenergy facility to be completed in Estonia is poised to meet the challenges of today and tomorrow - creating a tier 3 and 4 data centre offering customers the security and accessibility needed while making data management sustainable and green. Our aim is to introduce this model, developed in Estonia (which is known for its expertise in meeting today's digital and cyber expertise), to other Three Seas region markets to make further world-class data centre facilities available to international and local clients alike."

"This first digital investment of 3SIIF into Greenergy Data Centers demonstrates the vast potential of the Three Seas Initiative. I am extremely glad to see it happening in Estonia, as we introduced a comprehensive Smart Connectivity Concept in Tallinn. This shows that newer, greener and more efficient business models can be developed and scaled throughout the whole Three Seas region from Baltic sea to Black and Adriatic. This is where the true potential of our region lies," said Jüri Ratas, the Prime Minister of Estonia.

Joe Philipsz, Senior Investment Director at Amber, noted: “The Greenergy platform and its first data centre, MCF, will enhance digital connectivity through a network of energy efficient data centres across the Three Seas region.  We are delighted that it we are working with such a high calibre team in this important first digital investment for the Fund.”

For further information:

Amber Infrastructure Limited

Erica Sibree/Amy Joslin        


+44 (0)20 7939 0558/0587 

FTI Consulting   

Ed Berry/Mitch Barltrop

+44 (0) 20 3727 1046/1039


This announcement does not constitute or form part of, and should not be construed as, an offer, invitation or inducement or recommendation to make an investment nor shall it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.

Amber Infrastructure Group

Amber Infrastructure (‘Amber’) is a specialist international investment manager, focused on investment origination, asset management and fund management.  Amber’s core business focuses on sourcing, developing, advising, investing in and managing infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors that support the lives of people, homes and businesses internationally.

Amber is headquartered in London with offices in Europe, North America and Australia and employs over 130 infrastructure professionals.

The Three Seas Initiative Investment Fund

3SIIF is a dedicated commercial fund targeting infrastructure investments in Central and Eastern Europe (‘CEE’).  The Fund will invest in energy, transport and digital infrastructure in European Union (‘EU’) CEE member states which border the Baltic, Adriatic and Black Seas where the demand for long-term commercial investment into national infrastructure is among the highest in the EU.

Amber Infrastructure Group is the exclusive investment adviser to the Fund.

Greenergy Data Centers

Greenergy Data Centers was founded by successful telecoms and technology executive Üllar Jaaksoo. The company aims to develop energy efficient and sustainable data centres facilities meeting the challenges of exponentially growing needs for data management and related energy use.

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