T1 Energy assigned 50MW of grid power by Statnett in Norway

T1 Energy (TE) announced that Norway’s national grid operator, Statnett, has assigned 50MW of grid power to T1 Energy’s existing 926,000-square-foot industrial building in Mo i Rana. T1 remains in the interconnection queue for 396MW of power and is grateful the grid operator recognized the importance of this 50MW accelerated power allocation to an existing industrial site. Pareto Securities has been engaged to maximize the shareholder value of the Mo i Rana facility for T1. The 50MW of N-0 power requires an uninterruptible power supply, or UPS, and step-down transformer infrastructure to serve anticipated data center loads as early as Q2 2027. The temporary power allotment runs through the end of 2033. Separate from the 50MW assignment, T1 is awaiting a decision from Energiklagenemnda, or the Norwegian Energy Complaints Board, on the previously communicated dispute related to the allocation of an incremental 60 MW of grid capacity.