Mercury (ASX:MCY, NZE:MCY) acquired a 12.7% stake in Datagrid Holding Group through a $30 million investment, supporting the development of a planned 360-megawatt large-scale data center in Southland, according to a Thursday filing with the New Zealand and Australian bourses.
The investment, funded through existing capital facilities, builds on the company's 140-megawatt power purchase option agreement signed in March and supports its strategy to meet long-term renewable electricity demand, per the filing.
The project has secured resource consent, with a final investment decision anticipated later this year, the filing said.
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