VivoPower PLC (NASDAQ:VIVO, FRA:51J) said it has shortlisted prospective AI operator tenants for its Mo i Rana data center in northern Norway following a formal competitive request for proposal process.
The shortlisting comes after VivoPower completed its acquisition of the Mo i Rana facility in April 2026, with the RFP process designed to find the best use for its power infrastructure assets under the company’s Power-to-X strategy
VivoPower said it received multiple formal offers during the process, including offers to acquire all or part of the asset at a material premium to the company’s acquisition price, which were rejected. The company said in a statement it believed that transitioning the facility to dedicated AI digital infrastructure and leasing it to AI operators on 10-plus-year terms would generate materially higher value for shareholders. The company is now working to finalize a transaction with the selected AI operator or operators, targeting agreement by the end of June 2026.
Mo i Rana is a fully operational 41.5MW data center located in the Mo i Rana industrial precinct in northern Norway. The site is powered by 100% renewable hydroelectric energy at a cost below US$0.035 per kilowatt-hour, which the company says is among the lowest power costs for data centers in Europe and globally. An additional 40MW of expansion capacity could be energized within 18 to 24 months, subject to regulatory approval, bringing total site capacity to over 80MW