T1 Energy Secures 50MW Grid Allocation for Nordic Data Center Asset
AUSTIN, Texas and NEW YORK, March 18, 2026 (GLOBE NEWSWIRE) -- T1 Energy Inc. (NYSE:TE) ("T1," "T1 Energy," or the "Company") today announced that Norway's national grid operator, Statnett, has assigned 50MW of grid power to T1 Energy's existing 926,000-square-foot industrial building in Mo i Rana. T1 remains in the interconnection queue for 396MW of power and is grateful the grid operator recognized the importance of this 50MW accelerated power allocation to an existing industrial site.
"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," said Daniel Barcelo, T1 Energy's Chairman and CEO.
Pareto Securities has been engaged to maximize the shareholder value of the Mo i Rana facility for T1.
The 50MW of N-0 power requires an uninterruptible power supply (UPS) and step-down transformer infrastructure to serve anticipated data center loads as early as Q2 2027. The temporary power allotment runs through the end of 2033.
"Access to 50MW 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. "Global AI compute demand is expanding faster than new grid capacity. Strategic locations, such as Mo i Rana, where abundant electricity and industrial infrastructure intersect, are in high demand."
Separate from the 50MW assignment, T1 is awaiting a decision from Energiklagenemnda, or the Norwegian Energy Complaints Board, on the previously communicated dispute related to the allocation of an incremental 60 MW of grid capacity.
Access to secure and affordable grid power is a critical constraint for global data center and AI infrastructure development. T1 Energy's Mo i Rana facility is near installation-ready, enabling accelerated deployment of AI compute capacity at a site characterized by:
- Near 100% hydroelectric power from the grid;
- Low-cost electricity in northern Norway;
- Cold climate cooling advantages, improving energy efficiency and compute density;
- An existing industrial park well-suited for data center and infrastructure deployment; and
- A region with established digital infrastructure, including Norway's National Library data cluster.
The new 50MW reservation confirmed by Statnett should advance discussions with AI cloud operators, hyperscalers, industrial partners, and financial investors evaluating the site for long-term strategic development. As AI workloads shift to more power-dense GPU clusters and training environments, access to scalable, reliable, and geopolitically stable grids is becoming a key competitive differentiator for operators and investors. T1 is striving to maximize the value and redevelop its legacy industrial asset in Mo i Rana into the newest node of global AI infrastructure.
T1 remains focused on its core mission of building a U.S. solar supply chain, including its flagship G2_Austin solar cell fab.
About T1 Energy
T1 Energy Inc. (NYSE:TE) is an energy solutions provider building an integrated U.S. supply chain for solar and batteries. In December 2024, T1 completed a transformative transaction, positioning the Company as one of the leading solar manufacturing companies in the United States, with a complementary solar and battery storage strategy. Based in the United States with plans to expand its operations in America, the Company is also exploring value optimization opportunities across its portfolio of assets in Europe.
To learn more about T1, please visit www.T1energy.com and follow us on social media.
Investor contact:
Jeffrey Spittel
EVP, Investor Relations and Corporate Development
jeffrey.spittel@T1energy.com
Tel: +1 409 599 5706
Media contact:
Russell Gold
EVP, Strategic Communications
russell.gold@T1energy.com
Tel: +1 214 616 9715
Cautionary Statement Concerning Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation with respect to: the potential re-development of the Company's legacy assets in Norway into data centers; future allocation of grid power and installation of grid interconnection infrastructure; demand for data centers; continued investment in G2 Austin; and the Company's ability to bring in strategic capital to support America's advanced manufacturing sector. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual future events, results, or achievements to be materially different from the Company's expectations and projections expressed or implied by the forward-looking statements. Important factors include, but are not limited to, those discussed under the caption "Risk Factors" in (i) T1's annual report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (the "SEC") on March 31, 2025, as amended and supplemented by Amendment No. 1 on Form 10-K/A filed with the SEC on April 30, 2025 and (ii) T1's Quarterly Report on Form 10-Q for the period ended September 30, 2025, filed with the SEC on November 14, 2025. All the above referenced filings are available on the SEC's website at www.sec.gov. Forward-looking statements speak only as of the date of this press release and are based on information available to the Company as of the date of this press release, and the Company assumes no obligation to update such forward-looking statements, all of which are expressly qualified by the statements in this section, whether as a result of new information, future events or otherwise, except as required by law.
T1 intends to use its website as a channel of distribution to disclose information which may be of interest or material to investors and to communicate with investors and the public. Such disclosures will be included on T1's website in the ‘Investor Relations' section. T1, and its CEO and Chairman of the Board, Daniel Barcelo, also intend to use certain social media channels, including, but not limited to, X, LinkedIn and Instagram, as means of communicating with the public and investors about T1, its progress, products, and other matters. While not all the information that T1 or Daniel Barcelo post to their respective digital platforms may be deemed to be of a material nature, some information may be. As a result, T1 encourages investors and others interested to review the information that it and Daniel Barcelo posts and to monitor such portions of T1's website and social media channels on a regular basis, in addition to following T1's press releases, SEC filings, and public conference calls and webcasts. The contents of T1's website and its and Daniel Barcelo's social media channels shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
