EL7.AI
Stocks•21 May 2026•
1 min read

VivoPower Shortlists AI Tenants for Norway Data Center Expansion

Key Facts

1VivoPower completed a tenant selection process for its 41.5MW Mo i Rana data center in Norway following stronger-than-expected bids.
2The company expects new contracts to improve upon its current annual EBITDA of $10 million and revenues of $31 million.
3The board rejected unsolicited offers to acquire the asset at a premium, citing higher long-term strategic value.

According to reports, VivoPower PLC has completed the tenant selection process for its 41.5MW Mo i Rana data center in Norway following stronger-than-expected bids from AI operators. The company expects the upcoming contracts to improve upon its current annual EBITDA of $10 million and existing revenues of $31 million. Furthermore, the board of directors rejected unsolicited offers to acquire the asset at a premium, citing a preference for its long-term strategic value over immediate divestment.

This development occurs as the data center sector experiences rapid growth driven by AI demand, with firms increasingly seeking the low power costs offered by Nordic regions. Compared to peers in digital infrastructure, VivoPower is leveraging its "Power-to-X" strategy to maximize returns from energy assets, a move mirrored by competitors like Northern Data which have also expanded in the region per market data. The rejection of buyout offers signals management's confidence that the facility will generate superior cash flow as an operational asset.

Looking ahead, VivoPower aims to finalize these transactions by June 30, 2026. On the economic front, investors are monitoring speeches from Federal Reserve officials, including Bowman and Hammack later today (May 21, 2026), which may influence risk appetite across the tech sector.