VivoPower International has signed a definitive agreement to acquire OGDC Pte Ltd, securing 291MW of powered sites in Finland backed by low-cost renewable power. Through the deal, the company expands its presence in European AI data center infrastructure while gaining access to electricity priced below 4 cents per kilowatt-hour.
Under the agreement, VivoPower will obtain an economic interest in multiple grid-ready sites across Finland. Grid connections are expected within the next 12 months. As a result, the portfolio positions the company to support near-term AI deployments. Finland continues to attract AI infrastructure investment due to its grid stability, cold climate, and supportive regulatory environment.
Transaction Structure Focuses on Shareholder Alignment
VivoPower structured the transaction to link value creation with execution milestones. At closing, expected in February 2026, the company plans to pay approximately $13 million in cash from existing reserves. In addition, contingent value rights form part of the consideration.
These rights allow OGDC shareholders to receive convertible preference shares once grid connections are completed. The shares carry a conversion price of $15 per ordinary share. Consequently, equity issuance remains tied to operational progress. The pricing also reflects confidence in VivoPower’s long-term valuation.
Powered Land Supports AI at Scale
Through the acquisition, VivoPower gains access to powered land suitable for high-density AI data centers. Several sites meet security and reliability requirements for advanced workloads. At the same time, renewable hydropower will supply electricity at sub-4¢ per kWh rates.
This cost structure supports energy-intensive AI training and inference. Meanwhile, OGDC continues discussions with global operators and Tier-1 hyperscalers. These conversations highlight growing interest in Finland as a hub for energy-efficient AI infrastructure.
Leadership Team Joins VivoPower
Following the transaction, OGDC’s founding team will join VivoPower’s leadership. Philip van Wolffen will serve as strategic advisor. Shane Whelan and Alex Cuppage will oversee real estate execution and investment strategy.
Together, they bring more than 75 years of institutional experience. As a result, VivoPower expects faster project delivery and disciplined capital deployment across the portfolio.
Capital Strategy Emphasizes Efficiency
In parallel, VivoPower has outlined a financing approach focused on capital efficiency. Project funding is expected to target roughly 65 percent senior debt, 15 percent mezzanine financing, and 20 percent equity.
Once assets stabilize and generate long-term rental income, VivoPower plans to refinance them with additional senior debt. Consequently, equity gains can be released and recycled into new developments. Over time, the company may invite sovereign and institutional investors to participate, depending on project scale.
Kevin Chin, Executive Chairman and CEO of VivoPower, said the agreement establishes immediate scale in a power-advantaged market. He added that the transaction design links shareholder returns to successful energization while limiting dilution.
Philip van Wolffen, Chairman and Co-Founder of OGDC, said the partnership provides a strong platform for expanding powered land across Finland. According to him, renewable power availability and infrastructure reliability continue to support long-term AI data center growth.
The transaction is expected to close in February 2026, subject to customary closing conditions. All figures are stated in U.S. dollars unless otherwise noted.
