Bulk Infrastructure — N01 Campus, Vennesla/Kristiansand
PRE-REVIEW DRAFT — right of reply sent 21 August 2026, pending until 4 September 2026
Norway · Operational + expanding
| Status | Operational + expanding |
|---|---|
| Capacity (MW) | 600 reported by tracker; operator markets up to 1 GW campus power Sources: www.datacentermap.com · bulkinfrastructure.com |
| Power source claim | 100% renewable Nordic hydropower (operator claim) Sources: bulkinfrastructure.com |
| Published PUE | TENANT-REPORTED, not operator-disclosed: 1.2 reported by a tenant (Ardent/Northern Data) via third-party tracker (Baxtel) at the N01 site. Grade C pending Bulk's own published figure. Sources: baxtel.com |
| Ownership / jurisdiction | Ownership as of Dec 2025 (supersedes Sept 2023 figures — no single shareholder holds a true majority): Bulk Industrier AS 35.8% (plurality, Norwegian-registered; control/ultimate ownership NOT independently confirmed as founder Peder Nærbø's vehicle — flag unverified). BGO Europe IV 30.8% + BGO King HoldCo 15.2% (46% combined, foreign). Geveran Trading (Fredriksen) 7.8%. Others/employees 10.5%. Combined foreign capital (53.8%) exceeds Bulk Industrier AS's 35.8% — do not describe as majority Norwegian-owned. Bulk's own site labels Bulk Industrier AS 'majoritetsaksjonær' (majority shareholder) despite holding only a plurality. Sources: bulkinfrastructure.com |
| AI / GPU relevance | Marketed for AI/HPC high-density workloads Sources: bulkinfrastructure.com |
| Verification notes | Ownership snapshot changed materially between Sept 2023 (Bulk Industrier AS 51.7%, true majority) and Dec 2025 (35.8%, plurality only) — two dated snapshots found on the same URL; using the more recent. Heat reuse: one third-party article (DCD) mentions Bulk as 'also connected' to Oslo district heating, unquantified and unconfirmed on Bulk's own site — likely the OS-IX site; treat as unconfirmed pending right-of-reply. Moody's Second Party Opinion (2025) on sustainable debt; green bond financing (BISG01/02/03, Oslo Børs). Right of reply sent 21 Aug 2026; response window open until 4 Sep 2026. POSSIBLE FACILITY-COUNT GAP -- WE COUNT THIS CAMPUS AS ONE SITE AND IT MAY BE SEVERAL (recorded 26 Aug 2026, not yet resolved). The Nkom register lists Bulk under four operator registrations -- N01 AS, N01 DCM101 AS, N01 DCM102 AS and OS-IX AS -- three of which attach to this N01 campus. 'DCM' appears to denote discrete datacenter modules (buildings) on the campus rather than administrative entities, and public third-party material supports that reading: DCM101 and DCM102 are both referred to as named facilities at N01, and the campus is described as having design capacity for a large number of separate datacenter buildings. If that is right, N01 is a multi-building campus that we currently record as a single facility -- the same structure we already break out separately for Green Mountain's sites and STACK's OSL03A-D. We have NOT restructured this entry on that inference. Two things are missing before we would: per-module capacities from a primary source (none found -- one third-party figure for DCM101 exists but we could not confirm it against Bulk or a primary document), and confirmation from Bulk itself. Note the countervailing evidence: Bulk's own N01 page presents the campus as a single unified hyperscale site and names no modules at all. Added to Bulk's right-of-reply questions: does N01 comprise multiple discrete datacenter buildings, and if so what are their individual capacities? Separately, the same register/dataset gap runs the opposite way for Green Mountain (2 registrations vs our 4 sites) -- there the cause is simply that Nkom registers legal operator entities while we track physical facilities. |
Fields marked UNVERIFIED could not be confirmed against a public source. We publish uncertain data as uncertain.