GSK Stockmann provided comprehensive legal advice to DC Max, an affiliate of the internationally active real estate and investment manager FREO Group, regarding the initial development and financing of a significant data centre project in Dummerstorf, Mecklenburg-Vorpommern. The consultation covered German and Luxembourg law and was conducted by a cross-border team.
DC Max is responsible for the initial site development of this undertaking. This included the acquisition of the necessary land parcels and securing the required grid connection capacities. The region around Dummerstorf near Rostock offers extensive capacities for generating renewable energy, which can be utilised for the data centre's power supply.
Project Scope and Parties Involved
The project is one of the largest planned data centre developments in Europe. Schwarz Gruppe will realise the project as an investor and operator. A computing power of 240 megawatts is envisaged for an initial development phase. The planned investment volume for this up to the year 2033 amounts to approximately EUR 5.6 billion.
In a potential second phase, the data centre's capacity could be expanded to a total output of up to one gigawatt by the year 2045. GSK Stockmann's advice included the acquisition process for the project land and securing the grid connection, as well as project financing, which was carried out with the European investor Frux Capital.
Importance of Infrastructure
Dr. Olaf Schmechel, Partner and Head of Data Centres at GSK Stockmann, pointed out that data centres form the infrastructural backbone of advancing digitalisation and, in particular, the further development of AI applications. He also emphasised that projects of this magnitude place high demands on legal structuring and, in this case, on collaboration across different jurisdictions.
