- The National Wealth Fund is providing a $273.2 million guarantee
- DataVita will expand its DV1 facility and build a second data center
- The site is expected to be among the first U.K. AI growth zones to receive advanced chips
DataVita has secured a $405.8 million financing package to expand data center capacity at the Lanarkshire AI Growth Zone, the U.K. government announced Tuesday. Dell Technologies will establish a base at the site.
The National Wealth Fund is providing a $273.2 million guarantee. Lenders on the package include ING, ABN AMRO, Santander, the Scottish National Investment Bank and Siemens Financial Services.
The wider development is expected to support more than 3,400 jobs.
What Will DataVita Build at the Lanarkshire AI Growth Zone?
The financing covers the expansion of DataVita’s existing DV1 data center and the construction of a second facility.
Danny Quinn, managing director at DataVita, said every megawatt is contracted and the first facility will be completed this year. According to the British government, the site is on track to be among the first U.K. AI growth zones to have advanced chips installed.
Oliver Holbourn, CEO of the National Wealth Fund, said private financing is difficult to secure for emerging infrastructure at this scale and that the guarantee gives lenders confidence to commit.
The guarantee covers 80 percent of $341.5 million in lending from ING, ABN AMRO and Santander. The portions provided by the Scottish National Investment Bank and Siemens Financial Services are not covered.
How Does the UK AI Growth Zone Program Work?
The U.K. established the program to direct data center investment toward areas with the energy capacity to support it. The government said Lanarkshire’s position in Scotland’s electricity network and its access to renewable generation made it a fit.
A $734.3 million community fund is being developed, according to the government, to cover skills and training packages tied to AI work.
Scottish Government Economy Secretary Stephen Flynn said the growth zone is expected to draw more than $10.82 billion in private investment.
Why Is Dell Moving Its Scottish Team to Lanarkshire?
Dell will relocate its Scottish team to Mercury House in the Lanarkshire AI Innovation Park.
Steve Young, senior vice president and U.K. managing director at Dell, said joining the site puts the company alongside other organizations working on AI infrastructure and skills. He added the move will help Dell strengthen relationships in Scotland while supporting customers elsewhere in the U.K.
