N59° GridCore S.à r.l. is the Luxembourg financing and leasing platform of N59° Group. We fund and deliver AI-ready data center infrastructure for third-party operators, developers, and hyperscalers, with each asset structured in a dedicated project SPV and leased to the customer on a lease-to-own basis — ownership transfers over the lease term, not retained by the group.
A narrow function: structure, isolate, and finance individual infrastructure projects — one circuit at a time.
We establish or sponsor a dedicated project SPV for each asset — a Luxembourg or local vehicle matched to the jurisdiction and capital structure of the underlying transaction. Ownership can vary by project, including co-investor and joint-venture configurations.
Each SPV is structured to hold its own assets, liabilities, and cash flows separately from other projects. The perimeter is designed to limit project-level risk transmission, subject to the final financing documents, security package, guarantees, covenants, and any agreed cross-default provisions.
GridCore funds capital expenditure and structures each project SPV as lessor under a lease-to-own arrangement, with ownership transferring to the customer over the lease term. Senior debt, mezzanine, and equity may be raised at the SPV level, with GridCore acting as sponsor and structuring counterparty.
GridCore funds the capital expenditure for each AI-ready data center project on behalf of third-party operators, developers, and hyperscalers. Delivery is self-performed by the group's engineering and construction capabilities. The asset is held in a dedicated project SPV — the isolation point — and leased to the customer on a lease-to-own basis, with ownership transferring over the lease term rather than remaining with GridCore or the group. The structure is designed to limit crossover between projects, subject to the specific financing documents and any agreed cross-default provisions.
N59° Group S.à r.l. is the top holding company. N59° GridCore S.à r.l. is its Luxembourg financing and leasing platform. N59° Thor AS handles data center EPC and development. N59° AI AS is under establishment to operate the group's first data center, and subsequently other group and third-party facilities. N54° Battery GmbH is the group's battery energy storage company under establishment in Germany.
For operators, developers, hyperscalers, lenders, co-investors, and institutional counterparties considering a funded, lease-to-own structure for AI-ready data center infrastructure in Central and Northern Europe.
Inquiries reach contact@n59.ai.
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