- CEO
- Erik Daylemani Sneve
- Full Time Employees
- 33
- Sector
- Utilities
- Industry
- Renewable Utilities
- Address
- Karenslyst Allé 2 Oslo Norway 0277
- IPO Date
- Jun 25, 2008
- Business
- Magnora ASA Magnora ASA develops medium- to large-scale data centre, solar photovoltaic (PV), onshore and offshore wind power, and battery energy storage system (BESS) projects from concept through ready-to-build stages, with selective operations thereafter; the company delivers project management support for energy initiatives and develops or operates data centres leveraging an asset-light model focused on rapid execution and organic growth through disciplined project selection. Headquartered in Oslo, Norway, and founded in 2001, Magnora conducts operations across Europe including Norway, Sweden, the United Kingdom, Germany, and Italy, as well as South Africa in Africa, targeting landowners, project developers, renewable energy operators, data centre operators, utilities, infrastructure investors, and municipalities. Its portfolio encompasses subsidiaries and associates such as Magnora DC AB, Storespeed AS, Hafslund Magnora Sol AS, Magnora Offshore Wind AS, Magnora Germany, Magnora Italy Srl, Magnora Solar PV UK, Magnora South Africa, and AGV, with legacy royalty revenues from oil and gas reinvested into renewables. In recent developments, Magnora expanded its data centre activities through the formation of Magnora Center AB in Sweden and the October 2025 acquisition of a 75% controlling interest in Norwegian operator Storespeed AS alongside Blix Group, intensifying efforts amid strong partnership interest for approximately 1,500 MW of capacity; the company also advanced its renewable portfolio by 4% to approach a 10 GW target, progressed battery storage grid connections in Germany, matured solar PV and wind clusters in Italy and South Africa, and confirmed viability for its ScotWind offshore project in Scotland. Magnora maintains a pragmatic approach to technologies with short lead times, delivering average annual shareholder returns exceeding 40% from 2020 to 2024 while introducing recurring data centre operation revenues from 2025 onward.