Magnora adds two data center projects to its portfolio in Norway with total capacity of 145 MW

04 May 2026 07:00 CEST

4.5.2026 07:00:04 CEST | Magnora ASA | Non-regulatory press releases

Magnora has secured two new data center (DC) projects in the western part of
Norway, bringing Magnora's DC portfolio to gross 555 MW and net 430 MW. The
projects fit Magnora's priorities with AI as a core market driver. Both projects
are wholly owned (100%).

The first project plans for 95 MW in the southwestern part of Norway, adjacent
to one of the country's strongest grid connection points on land zoned for
business purposes. The area has stable hydropower generation and several
interconnected high-voltage backbone transmission lines. The local community has
long benefited from an established power-intensive industry.

The second project plans for 50 MW in the northwestern part of Norway and
benefits from an established regional data center ecosystem and excess local
renewable energy. The location is a former quarry, zoned for business purposes,
close to recently reinforced grid infrastructure and with easy access to cold
water for cooling. The conditions combine to offer excellent unit economics.

"It is a great pleasure to announce these two projects in the Nordic region with
welcoming and supportive local governments," says Erik Sneve, CEO of Magnora.
"With all the fundamentals in place, we are looking forward to developing these
projects together with local government, other stakeholders, and our growing
customer base."

CONTACTS

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

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) is a developer of data center, wind, solar, and battery
projects, as well as a data center operator. Magnora has operations in Europe
and Africa through the portfolio companies Magnora Data Center AS, 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 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/17847805/18887149/8911/Download%20announce
ment%20as%20PDF.pdf

More information:
Access the news on Oslo Bors NewsWeb site

672212_Download announcement as PDF.pdf