T1 Energy announced that Statnett, Norway’s national grid operator, has granted the company 50 MW of transmission capacity for its 926,000‑square‑foot industrial building in Mo i Rana. The allocation is the first phase of a broader plan to convert the site into a data‑center capable of supporting AI compute workloads, with operations slated to begin as early as Q2 2027 and the temporary power allotment running through the end of 2033.
"Access to 50 MW is a key step forward. It represents the first phase of a world‑class data‑center development and accelerates our dialogue with parties seeking available, scalable, and secure European AI infrastructure," said Andreas Bentzen, T1 Energy’s Chief Technology Officer. CEO Daniel Barcelo added, "T1 is building a solar supply chain to deliver scalable, reliable, and low‑cost energy in the United States. Our legacy assets in the Nordics could be developed as world‑class data centers utilizing the region’s abundant low‑cost power and human capital with a strong industrial heritage."
T1 Energy’s financial profile remains challenging. The company reported revenue of $399.68 million, with no growth over the past three years, a negative earnings‑per‑share of $3.78, an operating margin of –30.65 %, a net margin of –136.57 %, and a debt‑to‑equity ratio of 4.51. The data‑center initiative is therefore positioned as a potential revenue stream that could offset the company’s core solar manufacturing losses and diversify its geographic footprint.
In addition to the 50 MW allocation, T1 Energy is in the interconnection queue for an additional 396 MW of power and is awaiting a decision on a disputed 60 MW allocation. Securing the initial 50 MW provides a foothold that could accelerate future capacity expansions and enhance the site’s attractiveness to cloud and hyperscaler operators.
The move underscores T1 Energy’s strategy to monetize legacy industrial assets while maintaining its core focus on building a domestic U.S. solar supply chain. By leveraging Norway’s low‑cost hydroelectric power and cold climate, the company aims to create a competitive edge in the rapidly expanding European AI data‑center market, though execution risk remains high given its current financial leverage and the need for further grid approvals.
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