VivoPower announced it has entered into a definitive agreement to acquire OGDC Pte Ltd , an AI data center infrastructure developer with an economic interest in strategic powered land across Finland as well as other EU countries.
Through this transaction, VivoPower secures an economic interest in 291MW of powered land ready for AI data centers, including high-security sites. Power sourced from renewable hydropower at sub-4¢ per kWh, providing a competitive advantage for high-density AI training and inference. OGDC is advancing discussions with operators and global Tier-1 hyperscalers.
Kevin Chin, Executive Chairman and CEO of VivoPower, said: “We are very pleased to have secured this agreement, which delivers an initial 291MW portfolio of powered land in Finland and brings OGDC’s experienced team into VivoPower to execute the rollout. The transaction structure – $13 million cash at closing with CVRs tied to successful energization and a $15 conversion price –aligns incentives and avoids dilution. Furthermore, should milestones be achieved, we anticipate this structure will deliver shareholder value accretion.”
Philip von Wulffen, Chairman and Co-Founder of OGDC, said: “We are delighted to be joining forces with VivoPower, which we identified as the optimal permanent capital vehicle to institutionalize and scale our powered-land portfolio. We believe Finland offers a compelling combination of security profile, climate conditions, and renewable hydropower economics, and we’re taking most of our consideration in preference shares that convert at $15 per share, reflecting our long-term commitment to execution.”
Completion is expected in February 2026, with grid connection targeted within 12 months.
