- CEO
- Erik D. Sneve
- Full Time Employees
- 43
- Sector
- Utilities
- Industry
- Electric utilities
- Address
- Karenslyst Alle 6 Oslo PS Norway 0278
- IPO Date
- Nov 29, 2004
- Business
- Magnora ASA, a Norwegian renewable energy and data center development company founded in 2001 and headquartered in Oslo, develops medium- to large-scale projects from early phases to ready-to-build or operational stages, primarily in data centres; solar photovoltaic (PV) energy; onshore and offshore wind energy; and battery energy storage systems (BESS), with additional capabilities in project management, support services, and data centre operations. The company operates across the Nordics, United Kingdom, South Africa, Germany, Italy, and other regions, targeting landowners, project developers, energy companies, infrastructure investors, and operators through a pragmatic business model focused on organic growth, short lead times, and exits at advanced development stages; it maintains subsidiaries including Magnora Germany, Magnora Italy Srl, Magnora Solar PV UK, Magnora South Africa, and recently established Magnora Center AB in Sweden. Recent developments include the October 2025 acquisition of a 75-80% controlling stake in Norwegian data centre operator Storespeed AS in partnership with Blix Group AS and Blix Solutions to expand mid- and large-scale data centre operations in the Nordics; the launch of Swedish data centre activities; ongoing advancement of renewable projects in sales processes across key markets; completion of the final milestone under the legacy Penguins license agreement in October 2025; and a strategic shift toward data centre development and operations for recurring revenue starting in 2025, building on strong Q3 2025 financial results and a diversified portfolio targeting 10 GW by year-end.