VivoPower International has signed a deal to acquire OGDC Pte Ltd, an AI data center infrastructure developer focused on the Finnish and European markets.

The acquisition will see VivoPower acquire the rights to a portfolio of 291MW of powered land in Finland, with grid connections expected within 12 months.

Under the terms of the agreement, VivoPower will pay approximately $13 million in cash at closing, expected in February 2026.

As part of the deal, OGDC’s co-founders, Philip van Wolffen, Shane Whelan, and Alex Cuppage, will join VivoPower’s leadership team, taking on roles focused on strategy and real estate.

VivoPower said the sites are suitable for high-density, high-security data centers and will be powered primarily by renewable hydropower at less than $0.04 per kWh. OGDC is also in discussions with global hyperscalers and data center operators.

The company plans to fund development primarily through project finance, targeting a capital structure of around 65 percent senior debt, 15 percent mezzanine financing, and 20 percent equity. It also intends to refinance stabilized assets to release equity for reinvestment into new projects.

“This agreement delivers an initial 291MW portfolio of powered land in Finland and brings an experienced team into VivoPower to execute the rollout,” said Kevin Chin, executive chairman and CEO of VivoPower.

The deal follows a similar transaction in the UAE market signed last week, where Vivo acquired the rights to a 25MW data center facility. Also, earlier this month, the company acquired a 40MW cryptocurrency data center in Norway, with intentions to repurpose the facility from its current blockchain compute co-hosting business model into a Sovereign AI Hub.

VivoPower, founded in 2014 and listed on Nasdaq since 2016, operates across the UK, Australia, North America, Europe, the Middle East, and Southeast Asia. The company’s operations span electric mobility, renewable power applications, and digital asset infrastructure, with a growing focus on AI computing. It recently launched its Power-to-X strategy, which involves vertically integrating and controlling power infrastructure and land in key markets facing shortages of AI compute capacity. It is a pivot from its current main business model, which has prioritized cryptocurrency mining.