24.8.2026 07:00:03 CEST | Magnora ASA | Non-regulatory press releases
Magnora Data Center ASA (MDATA), in which Magnora ASA holds 52.7% of the shares,
has entered into a network connection agreement for its Hämeenlinna data center
project near Helsinki, Finland. Connection is scheduled for Q1 2029, with
potentially even faster process allowing for connection already in H2 2028.
Separately, MDATA has signed a Letter of Intent (LOI) with the local utility
regarding district heating, back-up power and additional electricity for the
project.
In less than eight months, MDATA has secured an attractive project, building
permit, a firm grid connection agreement, and the LOI for district heating,
back-up power and additional electricity.
"We are very pleased with this fast-track development which would not have been
possible without the support from and co-operation with the municipality and
local partners. The MDATA team which has developed a number of powered land
projects over the last years is now applying its experience to advance the
Hämeenlinna project in close co-operation with local stakeholders." says Erik
Sneve, CEO of Magnora ASA and executive chairman at Magnora Data Center ASA.
The initial plan was to develop a 120 MW project on the site. However, based on
an analysis of the project and discussions with partners we have decided to
develop a significantly larger project with a multi-site campus with more
electricity over the next years after the initial phase.
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 ASA, Helios
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/17847805/19034844/15743/Download%20announc
ement%20as%20PDF.pdf
r-files/17847805/19034844/15743/Download%20announc\
ement%20as%20PDF.pdf\