Estonian investors have increased their holding in Greenergy Data Centers (GDC), which operates the Huuru data centre near Tallinn, from 25.55% to 42.5%. The Three Seas Initiative Investment Fund remains the majority shareholder of GDC operator MCF Group Estonia, independent Baltic news agency BNS reported on September 28.

The larger stake gives the local investors a stronger role as Huuru expands its capacity for artificial intelligence computing. Its first AI section is due to be completed by the end of 2026, with Dutch company Nebius as a tenant.

The investors hold their stake through Tensor Genesis, whose partners are Tensor Aurora and UG Investments. Tensor Aurora’s owners include Miko-Ove Niinemae and Martin Salo, while investor Kristjan Rahu holds a majority stake in UG Investments.

“This summer, we said that Huuru is a long-term project for us, and now we are backing that up with action. The first phase of the AI factory located in our data center will be completed by the end of the year. The next phases require strong owners who can make decisions quickly. Tensor, together with UG Investments, are those partners, and we will make important decisions together,” said Niinemae, co-founder and head of Tensor Estate, BNS reported.

UG Investments head Valdur Laid will join the board of Tensor Genesis and is also expected to join MCF Group Estonia’s supervisory board. Kert Evert and Toomas Kell will continue to manage the data centre’s daily operations.

Once the first AI section is complete, Huuru’s IT load is expected to reach about 22 megawatts. MCF Group Estonia has applied to grid operator Elering for connection capacity of up to 200 megawatts to support further expansion, BNS reported.