Magnora ASA expands into Swedish data center development market

Magnora ASA announced its entry into the Swedish data center development market via its subsidiary, Magnora DC. The new venture will focus on developing asset-light projects, including securing industrial land, environmental concessions, building permits, and ensuring access to power grids and fibre. These projects aim to deliver ready-to-build sites for data center operators requiring 5 to 100 MW or more.

Erik Sneve, chief executive of Magnora ASA, highlighted that the company’s experience in onshore wind, battery storage, and solar PV projects makes data center development a natural fit. Magnora DC will leverage Sweden's cool climate, competitive clean energy prices, and advanced technological infrastructure.

Magnora ASA holds two-thirds ownership in Magnora DC, with local partners owning the remaining one-third. The company is actively engaged in discussions with landowners, municipalities, and grid companies to establish new data center sites.