VivoPower Targets $1.9 Million Annualized EBITDA Uplift from Enrollment of Norway Data Center into Statnett Reserve Markets Demand Response Program
Demand Response Program Targeted to Add USD 1.9 Million in Annualized EBITDA, with No Incremental Capex or Opex Required
Full Year Annualized EBITDA Impact Expected from Fiscal Year 2027
Enrolment in Demand Response Program Complementary to AI Tenant Operations
LONDON, April 27, 2026 (GLOBE NEWSWIRE) -- VivoPower PLC (NASDAQ:VIVO) ("VivoPower" or the "Company"), a leading B Corp-certified global developer and owner of powered land and data center infrastructure for AI compute applications, today announced that its 41.5 MW Mo i Rana data center in Northern Norway has prequalified 30 MW of capacity into Statnett SF's ancillary services markets, providing balancing capacity to the Nordic power system. Participation is targeted to deliver approximately USD 1.9 million of incremental annual EBITDA.
| Incremental EBITDA | USD 1.9 million per annum targeted, based on Nordic reserve market clearing prices |
| Facility | Mo i Rana, Northern Norway NO4 bidding zone |
| Capacity | 41.5 MW operational + 40 MW expansion in development |
| Power source | 100% hydroelectric verified renewable, no REC gap |
| TSO counterparty | Statnett SF, Norwegian transmission system operator |
| Markets enrolled | 12 MW FCR-D + 18 MW mFRR CM Statnett-prequalified; 30 MW total |
| Implementation | Live, Q1 CY2026 prequalification and metering complete |
Demand Response
A demand response program is a contractual arrangement under which an industrial electricity consumer offers a portion of its load to the Nordic power grid as flexible reserve capacity, earning capacity payments for availability and additional payments upon activation.
VivoPower's Mo i Rana facility has been prequalified by Statnett SF, Norway's transmission system operator, for two reserve markets:
- FCR-D — 12 MW prequalified for sub-10-second automatic load reduction, triggered when grid frequency falls below 49.9 Hz, without impact to tenant service levels.
- mFRR Capacity Market — 18 MW prequalified for upward regulation, activated within 12.5 minutes on a pay-for-availability basis. The remaining 11.5 MW is retained for tenant operations.
The program is administered through a Nordic Balancing Service Provider with established metering infrastructure at the Mo i Rana site.
Structural Advantages of the Mo i Rana Site
Mo i Rana's NO4 bidding zone is one of Europe's most attractive locations for industrial demand response, for three structural reasons:
- Low power costs — NO4 day-ahead prices averaged ~10 øre/kWh in 2025, a fraction of the 50–77 øre/kWh seen in southern Norway and continental Europe, due to abundant hydroelectric generation.
*Øre is the subunit of the Norwegian krone (NOK); 1 NOK = 100 øre. 10 øre/kWh is approximately $0.01 USD/kWh at current exchange rates.
- Nordic-wide reserve payments — FCR-D and mFRR capacity payments are cleared at the Nordic synchronous-area level, meaning Mo i Rana earns the same per-MW capacity payment as participants in southern Sweden or Finland, while benefiting from NO4's low underlying power costs.
- Mature flexibility ecosystem — Mo Industripark, one of Scandinavia's largest industrial estates, has participated in Norwegian balancing markets for over two decades. VivoPower's data center operates within this established ecosystem, materially shortening prequalification timelines and reducing operational risk.
Financial Impact
The expected USD 1.9 million annual EBITDA contribution is derived from contracted capacity payments under the enrolled programs, valued at prevailing Nordic clearing prices. Key parameters:
- Capacity payments accrue on a pay-for-availability basis — revenue is generated regardless of whether activation events occur, based on a price of USD5.00/MWh.
- Activation payments are additional and would accrue separately on each event called by Statnett.
- Approximate composition: ~80% capacity-based payments (recurring, accrued continuously while the facility is available) and ~20% activation-based payments (variable, accrued on events called by Statnett at expected frequencies). Capacity payments form the predictable revenue floor.
- Net of aggregator fees, telemetry costs, and metering charges; reflects EBITDA, not gross revenue.
- Forward-looking estimate based on 2025–2026 Nordic reserve market prices; subject to market conditions and prequalified capacity availability.
Strategic Context
The demand response enrollment demonstrates three key aspects of VivoPower's powered land and data center strategy:
- Stackable revenue — Reserve market participation, AI tenant lease income, and waste-heat district heating represent three independent revenue streams from the same asset. The first is announced today; the second is in active tender; the third is in feasibility assessment.
- Asset-light economics — The $1.9 million expected annual contribution requires no incremental capex beyond controls and metering already commissioned at acquisition, making it essentially pure margin.
- Defensible at scale — As VivoPower advances its planned 40 MW Mo i Rana expansion, the same reserve-market framework applies, with potential to scale demand response revenues materially over the medium term.
With the Norway acquisition now complete, VivoPower has full operational oversight of the Mo i Rana facility, including access to real-time financial reporting.
Kevin Chin, Chief Executive Officer of VivoPower, said: "Mo i Rana is not just a powered site — it is a flexibility asset embedded in one of the most efficient electricity markets in the world. By participating in Statnett's reserve markets, we are unlocking a high-margin revenue stream that can be fully complementary to AI tenant operations: it monetizes the small share of load we can flex without any compromise to tenant service levels, and it requires no additional capital investment beyond what was already in place at acquisition. This is the first of several flexibility-economics lines we expect to develop at Mo i Rana over the coming quarters."
About The Norwegian Reserve Markets
Statnett SF, the Norwegian transmission system operator, procures balancing capacity from generators and industrial loads through a series of structured markets covering primary, secondary, and tertiary frequency response. These markets form part of the Nordic Balancing Model (NBM), an integrated framework operated jointly by the Nordic transmission system operators (Statnett, Svenska kraftnät, Fingrid, Energinet) and settled through eSett Oy. The Nordic mFRR Capacity Market replaced the legacy Regulating Power Options Market in Q1 2024 and was followed by the launch of the Nordic mFRR Energy Activation Market in March 2025.
Industrial demand response has historically accounted for approximately 11% of prequalified upward FCR-D capacity across the Nordic synchronous area. As renewable generation grows and conventional thermal capacity retires, demand response is expected to play an increasing role in Nordic system balancing.
About VivoPower
Originally founded in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning B Corporation with a global footprint spanning the United Kingdom, Australia, North America, Europe, the Middle East, and Southeast Asia. Today, VivoPower's mission is to be the independent, trusted partner for sovereign nations that develop and operate sustainable data center infrastructure, ensuring sovereign control over power, data, and national intelligence. In doing so, VivoPower helps sovereign nations bridge the gap between their energy assets and their AI ambitions by providing the Power-to-X infrastructure necessary to build and control their own domestic intelligence hubs.
Forward-Looking Statements
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