VivoPower Acquires 291MW Portfolio of Powered Land in Finland Through OGDC Deal

VivoPower Acquires 291MW Portfolio of Powered Land in Finland Through OGDC Deal January 26, 2026 In a strategic move to secure critical infrastructure for the booming artificial intelligence (AI) computing sector, Nasdaq-listed VivoPower International has announced the acquisition of OGDC Pte Ltd, an AI data center infrastructure developer. The deal, signed this week, grants VivoPower the rights to a significant portfolio of 291 megawatts (MW) of powered land in Finland, marking a major expansion of its European footprint. The transaction underscores the intense competition for ready-to-build sites with ample, sustainable power—a key bottleneck for data center development globally. Finland, with its cool climate, stable political environment, and abundant renewable energy resources, has emerged as a premier destination for high-density computing infrastructure. Under the terms of the agreement, VivoPower will pay approximately $13 million in cash at closing, which is anticipated in February 2026. As part of the acquisition, OGDC's co-founders—Philip van Wolffen, Shane Whelan, and Alex Cuppage—will join VivoPower's leadership team, bringing their expertise in strategy and real estate to accelerate the company's rollout. The acquired portfolio consists of sites deemed suitable for high-density, high-security data centers. A key advantage is their access to primarily renewable hydropower at a cost of less than $0.04 per kilowatt-hour (kWh), with grid connections expected to be secured within the next 12 months. OGDC is reportedly already in advanced discussions with global hyperscalers and data center operators for the sites. VivoPower's Executive Chairman and CEO, Kevin Chin, stated, "This agreement delivers an initial 291MW portfolio of powered land in Finland and brings an experienced team into VivoPower to execute the rollout." The company plans to fund the development through project finance, targeting a capital structure of roughly 65% senior debt, 15% mezzanine financing, and 20% equity, with intentions to refinance stabilized assets to recycle capital into new projects. This acquisition is the latest in a series of strategic moves by VivoPower as it pivots from its historical focus on cryptocurrency mining towards AI computing infrastructure. The shift is formalized under its recently launched "Power-to-X" strategy, which aims to vertically integrate power infrastructure and land control in markets facing AI compute shortages. Just last week, the company acquired rights to a 25MW data center facility in the UAE, and earlier this month, it purchased a 40MW cryptocurrency data center in Norway with plans to convert it into a Sovereign AI Hub. The deal signals VivoPower's aggressive entry into the European AI data center race and highlights the growing value of pre-permitted, powered land parcels as foundational assets in the digital economy. Source: datacenterdynamics