VivoPower PLC (NASDAQ: VIVO) announced it has launched a competitive tenant selection process for its 41.5MW data center facility in Mo i Rana, Norway, following multiple inquiries from AI operators and hyperscalers.

The company completed its acquisition of the Mo i Rana data center on April 21, 2026. The facility operates on 100% renewable hydroelectric energy at below $0.035/kWh, which the company states is among the lowest power costs for data centers in Europe.

VivoPower will evaluate potential tenants based on commercial terms including lease rates and contract duration, financial strength, operational alignment, strategic fit with the company's infrastructure strategy, and expansion options. The site has pathway to over 80MW capacity subject to regulatory approval for an additional 40MW.

The data center currently generates $31 million in annual revenues and $10 million in EBITDA for VivoPower. The facility's Nordic location supports cooling efficiency, and existing infrastructure enables tenant deployment within months rather than the typical 18 to 36 months required for new construction.

The selection process will be conducted by VivoPower's management team with external advisory support. The company aims to identify tenants whose requirements align with shareholder interests and its Power-to-X strategy for power infrastructure assets.

VivoPower, founded in 2014 and listed on NASDAQ since 2016, operates data center and powered land infrastructure across Norway, Finland, and the United Arab Emirates. The company is B Corp-certified and focuses on sustainable data center infrastructure development.