Norwegian industrial investment firm Aker intends to develop a data center in Narvik.

Narvik is located in northern Norway and is within 250km of the Arctic Circle.

The site has access to 230MW of power and is ready for construction to commence. The facility’s end user has not yet been confirmed.

CEO Oyvind Eriksen said that the data center will “serve as a catalyst for industrial development, job creation, and export revenues.

“[Northern Norway] offers abundant, affordable hydropower and clean energy, along with the conditions needed to attract investment and foster innovation.”

As per Aker’s Q2 2025 earnings call, the data center will receive financial support from investment manager ICP Infrastructure. Former personnel from Aker Horizons, a subsidiary of Aker that specialized in green energy which was merged with its parent company in May, will also be involved in the project.

In response to a question about the rationale of the merger, Eriksen said that Aker Horizon had previously “explor[ed] opportunities in areas like green ammonia and green steel,” referencing a previous agreement to deliver ammonia or hydrogen produced through renewable means to German gas trader VNG.

Eriksen continued: “We learned that the need for AI factories and data centers fit even better for the sites. So now we’re in advanced discussions with both data center operators and data center customers.

“And time will tell if we finally manage to turn this into also a forward-looking and attractive opportunity for the Aker Group.”

Aker has investments in ten listed and eight unlisted companies.

The firm, which is majority owned by Norwegian billionaire Kjell Inge Rokke, reported its Q2 2025 earnings yesterday, with net asset value increasing 7.43 percent year-on-year from NOK 61.9bn ($6.1bn) to NOK 66.5bn ($6.5bn)