VivoPower Shortlists AI Tenants for 41.5MW Norway AI Data Center After Receiving Multiple Bids
Rhea-AI Summary
VivoPower (NASDAQ: VIVO) has shortlisted AI operator tenants for its 41.5MW Mo i Rana data center in Norway after a competitive lease bidding process that exceeded expectations. The company targets final agreements with selected tenant(s) by June 30, 2026.
According to VivoPower, new leases are expected to enhance data center economics beyond its current annual $31 million in revenue and $10 million in EBITDA. The fully operational site benefits from 100% renewable hydroelectric power costing below US$0.035/kWh, with an additional 40MW of capacity potentially energizable within 18–24 months, subject to regulatory approval.
Positive
- Current annual data center revenue of $31 million and $10 million EBITDA
- Multiple firm lease bids and premium purchase offers for Mo i Rana asset
- Expected tenant agreement by June 30, 2026 with 10+ year lease focus
- Operational 41.5MW capacity powered by 100% renewable hydroelectric energy
- Power cost below US$0.035/kWh, among the lowest for data centers globally
- Optional expansion of additional 40MW capacity within 18–24 months
Negative
- Additional 40MW expansion subject to regulatory approval and 18–24 month timeline
- Lease transaction with shortlisted AI tenants not yet finalized
- Board rejection of premium asset purchase offers introduces opportunity cost uncertainty
News Market Reaction – VIVO
In the May 21 session, VIVO gained 16.48%, reflecting a significant positive market reaction. Argus tracked a peak move of +4.9% during that session. Argus tracked a trough of -11.4% from its starting point during tracking. Our momentum scanner triggered 26 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous AI Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 14 | AI conference appearance | Positive | +16.6% | CIO featured on panel about AI data center financing and power access. |
| Apr 23 | AI lease bidding | Positive | +16.7% | Launch of formal lease RFP for 41.5MW Norway AI data center. |
| Apr 07 | AI advisor appointment | Positive | +12.7% | Appointment of former Microsoft AI leader to support infrastructure growth. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-tagged announcements have historically triggered strong positive single-day moves in VIVO.
Over recent months, VivoPower has focused on AI infrastructure, especially the Mo i Rana Norway data center. Prior AI-tagged news included appointing an experienced AI advisory council member, launching a lease bidding process for the 41.5MW site, and an AI-focused conference appearance. These events saw double-digit positive price reactions. Today’s shortlisting of AI tenants and lease progress continues that theme of commercializing the Norway AI data center within VivoPower’s Sovereign AI strategy.
Key Terms
ebitda financial
request for proposal financial
megawatt technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
New tenant(s) expected to further improve data center economics for VivoPower beyond its current annual
Short list follows the completion of a lease bidding process, which fielded firm proposals that were stronger and broader than anticipated
Board also received and evaluated unsolicited offers to acquire the asset at a premium to VivoPower’s acquisition price, which were rejected
Board considers strategic value to be materially higher, given the asset has amongst the lowest power costs for data centers in Europe and the world
Operational 41.5MW with a further 40MW expected to be energizable within 18 to 24 months, subject to regulatory approval
LONDON, UK / OSLO, NORWAY, May 21, 2026 (GLOBE NEWSWIRE) -- VivoPower PLC (NASDAQ: VIVO) (“VivoPower” or the “Company”), a B Corp-certified global developer and owner of powered land and data center infrastructure for AI compute applications, today announced that following the completion of its acquisition of the Mo i Rana data center on April 21, 2026, the Company has completed a formal competitive RFP (request for proposal) selection process to evaluate prospective tenants and has now short listed selected AI operator tenants. The selection process has been conducted in a manner consistent with the Company’s Power-to-X strategy to ensure the highest and best use case for its power infrastructure assets.
Short List Process Overview
VivoPower’s management team has worked closely with external partner advisors to identify tenants whose commercial terms, operational requirements, and strategic fit best serve the interests of VivoPower shareholders. Multiple formal offers were received, including offers to acquire all or part of the asset at a material premium to VivoPower’s acquisition price. The acquisition offers were rejected on the basis that the Company believes there is materially higher value to transitioning to dedicated AI digital infrastructure to powered shell level and leasing it out to AI operators for 10+ years.
The process evaluated candidates based on the following criteria:
- Commercial terms include lease rate per megawatt, contract tenor, and payment structure;
- Financial strength and credit quality;
- Operational alignment, including deployment timeline, workload characteristics, and integration with the site’s existing infrastructure;
- Strategic fit with VivoPower’s broader sovereign AI infrastructure strategy and B Corp governance principles; and
- Optionality for capacity expansion upon regulatory approval of the additional 40MW of permitted capacity.
VivoPower is now working to finalize the transaction with the selected AI operator(s), with a target for agreement by June 30, 2026.
Asset Overview
Mo i Rana is a fully operational 41.5MW data center facility located in the Mo i Rana industrial precinct in northern Norway. The site is powered by
About VivoPower
Originally founded in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning B Corporation with data center and powered land infrastructure across Norway, Finland, and the United Arab Emirates. The Company’s mission is to be the independent, trusted partner for sovereign nations that develop and operate sustainable data center infrastructure, ensuring sovereign control over power, data, and national intelligence. In doing so, VivoPower helps sovereign nations bridge the gap between their energy assets and their AI ambitions by providing the Power-to-X infrastructure necessary to build and control their own domestic intelligence hubs.
Forward-Looking Statements
This communication includes certain statements that may constitute “forward-looking statements” for purposes of the U.S. federal securities laws.
This announcement contains forward-looking statements including, but not limited to, the Company’s ability to maintain or improve current EBITDA levels, the potential for operational efficiencies, the successful positioning of the Mo i Rana site for AI compute applications, the outcome and timing of the tenant selection process, the Company’s ability to enter into agreements with prospective tenants on favorable terms, the potential expansion of site capacity, and the Company’s ability to successfully integrate the acquired operations and realize anticipated efficiencies and financial results. These statements are “targets” and “projections” only. Actual results may differ materially due to risks including: (i) fluctuations in input prices; (ii) delays in AI hardware procurement; (iii) regulatory delays affecting capacity expansion; (iv) the timing and outcome of the RFP process; (v) the Company’s ability to secure and retain tenants; (vi) changes in power availability or pricing; (vii) general market volatility; and (viii) the Company’s ability to successfully integrate the acquired operations and realize anticipated efficiencies.
Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “target”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the achievement of performance hurdles, or the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower’s management’s current expectations or beliefs and are subject to risk, uncertainty, and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower’s business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes, and other factors set forth in VivoPower’s filings with the United States Securities and Exchange Commission. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise.
Non-GAAP Financial Measures
This release may contain non-GAAP financial measures, including EBITDA. The Company believes these measures provide useful information but should not be considered in isolation or as a substitute for GAAP financial measures. A reconciliation to the most directly comparable GAAP measure is not available without unreasonable effort.
Media Contacts
VivoPower: media@vivopower.com
