VivoPower Seeks Tenants for Norway Data Center Amid AI Cloud Demand
Event summary
- VivoPower launched a formal RFP process for its 41.5MW Mo i Rana data center in Norway, following its April 21, 2026 acquisition.
- The facility, powered by 100% renewable hydroelectric energy at a cost of under $0.035/kWh, has attracted strong interest from AI neocloud operators and hyperscalers.
- The data center has a pathway to expand to over 80MW, contingent on regulatory approval.
- VivoPower anticipates new tenants will improve data center economics, potentially exceeding current revenues of $31 million and EBITDA of $10 million annually.
The big picture
VivoPower's move underscores the escalating demand for data center capacity from AI workloads, particularly in regions with access to cheap renewable energy. The company's Power-to-X strategy positions it to capitalize on the growing need for sovereign AI infrastructure, but success depends on attracting tenants willing to pay a premium for the combination of low power costs and strategic location. The RFP process signals a shift towards a more selective tenant acquisition strategy, prioritizing alignment with VivoPower's B Corp governance principles.
What we're watching
- Regulatory Hurdles
- The ability to expand capacity to 80MW hinges on regulatory approval, which could delay timelines and impact overall investment returns.
- Tenant Selection
- The selection process's criteria, particularly the weighting of commercial terms versus strategic fit, will reveal VivoPower's priorities and potential margin pressure.
- Competition
- The intensity of competition among AI neocloud operators and hyperscalers for this low-cost, renewable-powered data center will influence VivoPower's negotiating leverage and long-term pricing.
Related topics