VivoPower Opens Tenant Bidding for 41.5MW Norway Data Center as Shares Jump 16%
Cheap hydro power positions the site to draw AI compute tenants quickly.
Overview
- VivoPower opened a formal tenant RFP on Thursday for the 41.5MW Mo i Rana site after closing the purchase on April 21.
- Investors pushed the stock up about 16% after the announcement of the competitive leasing process.
- Management is running the process with external advisors to weigh lease rates, contract terms, credit strength, operational fit, and alignment with its sovereign AI strategy.
- The facility in northern Norway runs on 100% hydro power priced below $0.035 per kWh, which cuts energy and cooling costs and lets tenants start operations in months.
- An extra 40MW of capacity could be added with regulatory approval, and the company says tenant deals would lift revenue and EBITDA from current levels.