VivoPower PLC (NASDAQ: VIVO) announced it has selected a preferred long-term tenant for its Mo i Rana AI data center in northern Norway, according to a press release issued June 29, 2026.

The company did not disclose the identity of the counterparty, describing it only as a "global AI industry leader" selected from a competitive field of prospective tenants. VivoPower said the selection was based on commercial terms, financial strength, credit quality, operational alignment, and capacity expansion optionality. A further announcement including the counterparty's identity and material commercial terms is expected once legal documentation is executed.

Negotiations have extended beyond the Mo i Rana facility. VivoPower said additional arrangements under discussion relate to its broader powered land and data center development pipeline across multiple jurisdictions, though no agreements have been finalized.

The Mo i Rana facility is a 41.5MW operational data center powered by 100% renewable hydroelectric energy at a stated cost below $0.05 per kilowatt-hour. VivoPower said an additional 40MW of permitted expansion capacity could be brought online within 18 to 24 months, subject to regulatory approval, bringing total site capacity above 80MW.

VivoPower, listed on Nasdaq since 2016, holds data center and powered land infrastructure in Norway, Finland, and the United Arab Emirates.