VivoPower PLC (global developer and owner of powered land and data center infrastructure) has launched a formal competitive request-for-proposal process to select tenants for its recently acquired data center in Mo i Rana, Norway, following what the company described as strong inbound interest from AI neocloud operators and hyperscalers.

The Mo i Rana Facility

The Mo i Rana data center is a fully operational 41.5 megawatt facility located within the Mo i Rana industrial precinct in northern Norway. The site draws power entirely from renewable hydroelectric sources at a cost below USD 0.035 per kilowatt-hour, which VivoPower stated is among the lowest power costs for data centers in Europe.

The facility benefits from Norway's Nordic cold-climate environment, which the company said supports efficient cooling economics. VivoPower also noted that the site's existing energized infrastructure means prospective tenants could deploy operations within months, rather than the 18 to 36 months typically required for greenfield data center development.

An additional 40 megawatts of expansion capacity has been permitted, though it remains subject to regulatory approval. If approved, the total site capacity would exceed 80 megawatts. VivoPower said optionality for that capacity expansion is one of the criteria being evaluated in the tenant selection process.

Current Financial Performance

VivoPower disclosed that the Mo i Rana site currently generates approximately USD 31 million in annual revenues and USD 10 million in EBITDA. The company stated that new tenant arrangements are expected to further improve those data center economics beyond the current figures, though it cautioned that such expectations are forward-looking and subject to a range of risks and uncertainties.

Tenant Selection Criteria

The competitive RFP process will be conducted by VivoPower's management team with the support of external partner advisors. The company outlined several criteria against which prospective tenants will be evaluated. On the commercial side, the process will assess lease rate per megawatt, contract tenor, and payment structure.

Financial strength and credit quality will also form part of the evaluation. Operational alignment will be considered, encompassing deployment timeline, workload characteristics, and how prospective tenants would integrate with the site's existing infrastructure.

VivoPower added that strategic fit with its broader sovereign AI infrastructure strategy and B Corp governance principles would factor into the decision. Candidates will also be assessed on their interest in and capacity to take advantage of the potential 40 megawatt expansion, should regulatory approval be obtained.

The company said the process is designed to identify tenants whose commercial terms, operational requirements, and strategic fit best serve the interests of VivoPower shareholders.

Power-to-X Strategy

VivoPower framed the tenant selection process as consistent with its Power-to-X strategy, which the company described as ensuring the highest and best use case for its power infrastructure assets.

The Mo i Rana facility represents a key component of that strategy, given the combination of low-cost renewable power, existing operational infrastructure, and capacity for expansion.

The inbound inquiries that prompted the formal RFP launch came from both AI neocloud operators and hyperscalers, though VivoPower did not identify any of the interested parties by name or provide details on the number or nature of the inquiries beyond characterizing the interest as strong.

Market Context and Risk Factors

The Mo i Rana data center enters a competitive landscape at a moment of significant demand growth for AI compute infrastructure. The facility's sub-USD 0.035 per kilowatt-hour power cost and its 100% renewable energy supply position it as a cost-competitive option for operators seeking both affordability and green credentials in their infrastructure deployments.

VivoPower acknowledged a range of risks that could affect the outcome of the tenant selection process and the broader performance of the site. These include fluctuations in input prices, delays in AI hardware procurement, regulatory delays affecting the capacity expansion, and the timing and outcome of the RFP (Request for Proposal) process itself.

The company also cited risks around its ability to secure and retain tenants, changes in power availability or pricing, and general market volatility.

The company noted that its ability to maintain or improve current EBITDA levels, successfully position the site for AI compute applications, and realize anticipated efficiencies from the acquisition are all subject to these and other risks. VivoPower did not provide a timeline for the completion of the tenant selection process or indicate when it expects to announce the outcome of the RFP.

Europe's Data Center Pipeline Is Moving Fast — Is Your Intelligence Keeping Up?

Across Europe, the race to build, expand, and upgrade data center infrastructure has never been more intense. Hyperscalers, colocation providers, and sovereign cloud initiatives are all competing for the same sites, the same contractors, and the same grid connections, and the organizations winning new business are the ones who see opportunities before they become common knowledge.

The Global Project Tracking (GPT) platform by Blackridge Research gives you structured, continuously updated intelligence across the full data center development lifecycle in Europe. Whether you are tracking gigawatt-scale campuses in the Nordics, edge deployments in Southern Europe, or retrofit projects in established markets like the UK and Germany, the platform consolidates what you need in one place.

From early planning signals through to project completion, staying ahead of the curve requires more than periodic market reports. It requires live visibility into every stage of development, and that is exactly what the GPT platform delivers.

• Upcoming Projects

• Tender Notices

• Contract Awards

• Projects Under Construction

• Completed Projects

If your team is targeting growth in Europe's data center sector, see the platform in action. Book a Free Demo with Blackridge Research today.