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Magnora ASA ( (SVMRF) ) just unveiled an update.
Magnora ASA has partnered with regional players to develop a new data center project in northwestern Norway, targeting customers with demanding needs for redundancy and capacity. The site is located where three 420 kV power lines converge near a key substation, offering strong grid connectivity and synergies with Magnora’s other regional initiatives.
The project benefits from a supportive local government, streamlined rezoning practices and a welcoming business environment that aims to attract new business. Magnora will initially hold 60% of the project company, with an option to increase its stake as the project progresses, underscoring its strategy of using collaborative models to enhance its data center portfolio and strengthen its market position in energy-intensive digital infrastructure.
The most recent analyst rating on (SVMRF) stock is a Buy with a NOK32.00 price target. To see the full list of analyst forecasts on Magnora ASA stock, see the SVMRF Stock Forecast page.
More about Magnora ASA
Magnora ASA is a renewable energy group listed on the Oslo Stock Exchange, focusing on developing data center, wind, solar and battery projects. The company operates across Europe and Africa through multiple portfolio entities, including Magnora Data Center units, solar and offshore wind platforms, and has additional earn-out revenues from former portfolio companies Helios Nordic Energy and Evolar.
Average Trading Volume: 180,680
Current Market Cap: NOK1.3B
See more data about SVMRF stock on TipRanks’ Stock Analysis page.