Ficolo issues €20m green bond for its Helsinki data centre expansion

Ficolo Helsinki data centre

Data centre services provider Ficolo has issued a €20m that will be used for the modernisation and expansion of Ficolo’s Helsinki data centre and acquisitions.

The bond is the first green bond issued in Finland by a fully privately-owned company, and was certified by the Norwegian climate research institute CICERO, which evaluated the environmental impact of the bond.

Ficolo received the Dark Green CICERO rating for its bond; with the rating being given to projects that help prevent climate change.

The company revealed that its Helsinki data centre aims to help tackle climate change through energy efficiency, heat recovery and recycling, and the exclusive use of renewable energy, which in practice will be wind energy.

Data centres are highly energy-intensive and thus play a role in the prevention of climate change,” said Seppo Ihalainen, CEO of Ficolo.

“We have always only used renewable energy in our data centres, and we have developed our energy efficiency to absolute world-leading levels.

“Investing in reducing environmental impact is a clear strategic choice for us and a responsible operating model which also brings a competitive advantage.


Time is precious, but news has no time. Sign up today to receive daily free updates in your email box from the Data Economy Newsroom.

“The fact that our bond received the highest possible rating from CICERO is also a strong message to our customers.”

The term of Ficolo’s green bond is four-years with a fixed coupon of 5.5%. The issue date of the bond is October 2, 2019, and Taaleri Capital has acted as financial advisor and Taaleri Wealth Management as the lead manager of the bond issue. Borenius Attorneys Ltd has acted as legal advisor in the arrangement.

“It is great that also other companies, not just large companies, are looking for green financing directly from the market,” said Vesa Heikkilä, CEO of Taaleri Capital.

“The business sector accounts for more than two-thirds of value-added GDP, so it is clear that the fight against climate change must be won first and foremost in the companies.

“Green financing is a great way to engage both the company and investors in projects with the highest impact.

“As a new economy company, Ficolo is also an example of the fact that creating new growth and combating climate change are not mutually exclusive goals.”

Read the latest from the Data Economy Newsroom: