Why Winda & Gi21 are Building Data Centres in Finland
A Helsinki-based renewable energy developer is pivoting to major construction infrastructure with plans for a €500m (US$584m)-plus data centre development in southern Finland, marking one of the region's most significant industrial projects.
Winda Energy, which has spent 15 years developing wind farms and solar parks across Finland, has announced its first move into data centre infrastructure. The company plans to construct a 100 MW facility in the Rastikangas industrial zone in Janakkala, a municipality in the Kanta-Häme region.
The project could represent a notable strategic shift for a company whose portfolio has, until now, been built entirely on generation rather than consumption.
"Finland and Winda Energy have already invested heavily in green electricity production and it is great to see how this opens up new business opportunities on the consumption side," says Tuomas Hooli, CEO of Winda Energy.
Major construction investment exceeds €500m
The investment is estimated to exceed €500m (US$584m), positioning it as one of the more significant data centre construction commitments in Finland.
A 22-hectare site has been reserved at Välirasti 2 in the Rastikangas zone, with the municipality of Janakkala indicating the facility could ultimately span around 112,110 square metres.
Construction is scheduled to begin in 2027, with completion targeted for 2028. The project is being co-developed with Gi21 Capital, a Czech investment company with two decades of experience across data centre development, cloud platforms and hosting services.
Gi21 describes itself as active across the full project lifecycle, from planning and construction through to operation and has a presence in early-stage AI start-up investment as well.
Infrastructure advantages drive construction boom
Finland has become an increasingly popular destination for data centre construction investment, driven by a combination of factors that operators elsewhere in Europe struggle to match.
The country's wind energy boom has helped push wholesale electricity prices to some of the lowest on the continent, while its chilly Scandinavian climate enables facilities to use cold outside air for cooling.
This reduces the reliance on energy-intensive mechanical systems and could keep power usage effectiveness ratios well below industry norms.
That combination is not lost on Winda, which has more than a dozen wind farms in operation or development across Finland, with a total wind pipeline exceeding 1 GW and solar projects surpassing 800 MW.
The company's majority shareholder is Czech private equity investor BHM Renewables, part of BHM Group, a connection that may help explain the European axis underpinning the Gi21 partnership.
Winda has also previously signed a power purchase agreement with Amazon, suggesting the company already has established routes into the hyperscale market.
Construction brings local economic impact
For the Finnish municipality of Janakkala, the construction project carries real economic importance. During construction, the facility is expected to employ hundreds of workers, with ongoing operations projected to sustain between 30 and 40 permanent positions for local specialists.
The municipality stands to benefit from increased municipal, property and corporate tax revenues, as well as proceeds from the sale of the land.
Harri Vierikka, Technical Director of Janakkala, says: "The project is extremely significant for the municipality and positive in its overall impacts. It strengthens the municipality's vitality, supports the area's development and demonstrates that the municipality is seen as a credible location and investment environment even at times when new investments are not easily realised."
Finland is not without its data centre complications. A government proposal currently before parliament would move electricity used in data centres from the lower tax category to the higher general rate from July 2026, adding around 2.19 cents per kilowatt hour to operating costs.
Some members of the Finnish government have also expressed their dissatisfaction with TikTok's recently announced data centres in the country, with critics suggesting that the government needs a broader oversight on the country's data centre sector.
A new incentive scheme is being prepared in parallel, expected to enter into force in autumn 2026, though the precise form and conditions remain under development.
Whether that regulatory uncertainty gives developers pause remains to be seen. For now, Winda's Janakkala project could signal that the appetite for Finnish data centre construction capacity remains strong despite the shifting policy landscape.