Magnora Launches 100MW Data Center Project on Norway's West Coast
December 4, 2025
Norwegian renewable energy investment firm Magnora ASA has announced the launch of a major new data center project, signaling a strategic expansion into the digital infrastructure sector. The move underscores the growing convergence of renewable energy and data center development, particularly in the Nordic region, which is increasingly sought after for its abundant green power and favorable cooling conditions.
The company this week unveiled "Magnora Scale Averøya," a planned 100-megawatt (MW) facility to be built in Kristiansund, a municipality on Norway's western coast. The project will be developed on a 120,000 square meter (1.29 million square foot) site within the Averøy Industripark. Magnora is partnering with the park's owners and local developer Tore Knapskog, who previously developed and sold the Tonstad DataPark. Under the agreement, Magnora will hold a 70 percent stake in the new entity, with Averøy Industripark owning 22.5 percent and Torek AS holding the remaining 7.5 percent. Specific timelines for construction have not yet been disclosed.
Magnora's CEO, Erik Sneve, highlighted the strategic rationale behind the investment, stating, "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." The company, which transitioned to a dedicated renewable energy investor in 2018, recently bolstered its data center expertise by acquiring a majority stake in Norwegian developer Storespeed. That company operates a 1MW facility with expansion potential and has a pipeline of projects totaling 45MW, scalable to over 150MW.
The development is part of a broader trend of energy companies and investors capitalizing on the high demand for sustainable computing capacity, especially for power-intensive workloads like artificial intelligence. By leveraging Norway's renewable energy grid and cool climate, projects like Magnora Scale Averøya aim to offer a competitive, low-carbon alternative to traditional data center hubs. The announcement also positions Magnora for further expansion in the Nordic market, with the company having expressed interest in similar developments in Sweden.
Source: datacenterdynamics
Norwegian Renewable Investor Magnora Launches 100MW Data Center Project on West Coast
