Magnora ASA adds 30 MW data center project to its portfolio in Italy

18 May 2026 07:00 CEST

18.5.2026 07:00:02 CEST | Magnora ASA | Non-regulatory press releases

Magnora has secured its second data center (DC) project in Italy, bringing
Magnora's DC project portfolio to gross 585 MW and net 460 MW. The project is
wholly owned.

The project is strategically located in the Milan area, considered one of the
core DC growth hubs in Europe. Milan offers a strong, international business and
technology environment, and is centrally located in southern Europe, making it a
natural data transit hub. It has further a strong fibre and connectivity
infrastructure, enabling low-latency data exchange and redundancy.

Further, the project is located on industrial zoned land, applicable and well
suited for data center development and construction. Land exclusivity agreement
has been secured, and the local municipality is supportive of the project. The
project benefits from a strong surrounding electrical infrastructure, and the
grid application has been submitted.

"We have identified Italy as a highly interesting DC market" says Erik Sneve,
CEO of Magnora. "With the current hubs of Europe (FLAP-D) facing significant
power and regulatory constraints, Milan is considered one of the strongest
candidates as an upcoming Tier-1 hub."

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 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/17847805/18903260/10133/Download%20announc
ement%20as%20PDF.pdf

More information:
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673647_Download announcement as PDF.pdf