The Latvia-based Digital Economic Development Center (DEAC) and Duomeņu logistikos centras (DLC) of Lithuania have obtained a 10-year loan of EUR 30 million from SEB banka. This fund injection aims to bolster the expansion of new data centers and the growth of an optical fiber network within the Baltics. While a major portion of this loan is dedicated to creating DEAC’s third data center in Riga, the remaining funds will boost the outreach of optical fiber networks and contribute to the growth of DLC’s data centers in Vilnius. The forthcoming data center in Riga is envisioned to be entirely powered by renewable energy, with emergency generators running on renewable “Neste MY” diesel. Both DEAC and DLC offer neutral vendor services for cloud computing and IT infrastructure under the umbrella of Baltic Rezo, which is backed by Quaero European Infrastructure Fund II. DEAC, a wholly-owned subsidiary of Baltic Rezo, saw a 5.4% year-on-year turnover rise to 9.995 million euros in 2022.