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T1 Energy Says Giga Arctic Campus in Norway Approved for Data Center Development

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T1 Energy (TE) said Thursday that Mo i Rana, Norway, officials have rezoned part of the company's Giga Arctic campus for the development of a data center.

The municipal government allowed 161,000 square feet of the campus to be used for industrial or data center operations, and T1 expects a 50-megawatt data center to be operational in 2027, with a potential for expansion.

T1 has a position in the grid capacity queue for 396 megawatts, it added.

The company's shares were up 8.7% in early trading.

Price: $4.90, Change: $+0.39, Percent Change: +8.66%

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