T1 Energy’s stock climbed 7.7% in morning trading after Norway’s Mo i Rana municipal government approved the rezoning of 161,000 square feet of the company’s 926,000-square-foot Giga Arctic campus to support data center operations.
The approval clears the way for an initial 50 MW data center phase, with operations slated to begin in 2027. The rezoned portion is designated exclusively for data center use, while the remainder of the campus retains an industrial designation.
T1 Energy holds a position in Norway’s grid capacity queue for up to 396 MW, positioning the company to scale future data center developments as grid access permits. The broader market showed modest gains during the session, with the Nasdaq up 0.9% and the S&P 500 advancing 0.3%.
