New Tier III Data Center in Reykjavik

Reykjavik's first large scale, sustainable, free-cooling, Tier III data center will be built as a joint venture by three ICT companies and a real estate developer. The stage is scheduled to be complete early 2019 but the fully developed data center, intended to be one of Iceland's most technologically advanced, will be up to 5,000 square meters.

The project holders; Opin Kerfi, Vodafone Iceland, The IT Service Center for the Icelandic Financial Market (RB) and Korputorg Real Estate ltd. signed the agreement on the construction this February in the presence of the Minister of Tourism, Industry and Innovation, Mrs Thordis Kolbrun R Gylfadottir and the Mayor of Reykjavik, Dagur B. Eggertsson.

The press release from the stakeholders states that the first major customer will be RB, which is owned by Icelandic financial institutions and operates all the key core banking systems and clearing and payments systems in Iceland. After evaluating numerous sites as new facilities for its primary data center, RB decided to select the Korputorg site in Reykjavik and join the consortium: "The data center will be designed to fulfill the stringent security and redundancy requirements that come with hosting core banking and clearing systems."

“It is fantastic to launch a datacenter in Reykjavík where key conditions are in place for the development of high-tech environments that require extraordinary capacity. Excellent access to services, infrastructure and safe delivery of green energy is effortless with direct connection to one of the city’s main power stations. We at Opin Kerfi are delighted with this cooperation and how this enables us to serve our customers’ needs even better – especially accommodating the growing demand from international prospects” said Thorsteinn G. Gunnarsson, CEO of Opin Kerfi.

From the signing ceremony. Mayor of Reykjavik Dagur B. Eggertsson, CEO of Fjarskipti hf. (Vodafone Iceland) Stefan Sigurdsson, CEO of Opin Kerfi Thorsteinn G. Gunnarsson, Minister of Tourism, Industry and Innovation Thordis Kolbrun R Gylfadottir, CEO of RB Fridrik Thor Snorrason and CEO of Korputorg, Saevar Thor Olafsson.

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Iceland focuses on a favorable business environment, including low corporate tax, availability of land and green energy at competitive prices and efficiency within European legislative framework. New direct investment projects can apply for an investment agreement, ensuring generous regional incentives, including a corporate tax rate ceiling of only 15%.

Why Iceland

Along with having one of the lowest corporate tax rate in Europe, Iceland has a highly educated workforce which is ranked among the highest in the world, offers competitively priced renewable energy with an advanced infrastructure making Iceland an ideal location for investors