Magnora adds 100 MW data center project to its Norwegian portfolio

04 Dec 2025 08:10 CET

4.12.2025 08:10:32 CET | Magnora ASA | Non-regulatory press releases

On 4 December 2025, Magnora launched Magnora Scale Averøya, a high-density
AI-ready data center project close to Kristiansund with capacity up to 100 MW.

The project is being developed through a partnership established to secure all
rights, permits and grid concessions. Magnora is working with owners of Averøy
Industripark and with Tore Knapskog, who successfully developed and sold Tonstad
DataPark to GreenScale. The objective is a clean exit once the project reaches
full technical and permitting maturity.

The 120,000 m² site is already zoned for industry, secured through an exclusive
fixed-price purchase option, and strategically located just 20 minutes from
Kristiansund Airport, 15 minutes from the city center, and adjacent to a
land-based aquaculture project with heat reuse potential.

"This project offers a great opportunity to our target customers, it's in an
industry where time-to-market is decisive and liquid-cooled high-density
capacity is critically undersupplied, and the Nordics stand out as an emerging
region" says _Erik Sneve, CEO of Magnora ASA.

Magnora will hold 70% of the shares in the new entity, Averøy Industripark
22.5%, and Torek AS the remaining 7.5%.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Erik Sneve, CEO, email: es at magnoraasa.com

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) is a renewable-energy group developing data center, wind,
solar and battery projects. Magnora has operations in Europe and Africa through
the portfolio companies Magnora Data Center AB, Storespeed AS, Hafslund Magnora
Sol AS, Magnora Offshore Wind AS, Magnora Germany, Magnora Italy Srl., Magnora
Solar PV UK, Magnora South Africa, and AGV. Magnora also has earn-out revenues
related to the former portfolio companies Helios Nordic Energy and Evolar.
Magnora is listed on the main list of the Oslo Stock Exchange under the ticker
MGN.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847805/18739683/6615/Download%20announce
ment%20as%20PDF.pdf

More information:
Access the news on Oslo Bors NewsWeb site

661200_Download announcement as PDF.pdf