VivoPower PLC (NASDAQ:VIVO, FRA:51J) has launched a formal request for proposals to find tenants for its newly acquired data center in northern Norway, as the Nasdaq-listed company looks to capitalize on surging demand for artificial intelligence computing infrastructure.
The B Corp-certified energy and infrastructure developer completed its acquisition of the Mo i Rana data center on April 21 and said it has already received unsolicited inquiries from AI cloud operators and major technology companies.
The 41.5-megawatt facility, located in the Mo i Rana industrial precinct, runs entirely on hydroelectric power at a cost of less than $0.035 per kilowatt-hour, which the company said ranks among the lowest data center power costs in Europe.
VivoPower said the tenant selection process would be managed by its own executive team with support from external advisers, and would weigh candidates on commercial terms, financial strength, operational fit, and strategic alignment with its broader sovereign AI infrastructure push.
The company also cited compatibility with its B Corp governance standards as a selection criterion.
The site's existing energized infrastructure means prospective tenants could be operational within months, VivoPower said, contrasting that with the 18 to 36 months typically needed to bring a new-build facility online.
The company added that an additional 40 megawatts of expansion capacity at the site is pending regulatory approval, which would bring total capacity to more than 80 megawatts.
VivoPower described the process as consistent with its "Power-to-X" strategy, aimed at directing its power infrastructure assets toward their highest-value applications.
Shares of VivoPower, which trade on the Nasdaq under the ticker VIVO, were up 12.4% in Thursday afternoon trading.