VivoPower To Acquire OGDC, Securing 291MW of Powered Sites in Finland with Sub-4¢ per kWh Renewable Power for Sovereign AI Data Centers
Definitive agreement signed, closing expected in February 2026, grid connection and/or energization targeted within 12 months
OGDC is an AI data center infrastructure developer that has an economic ownership in a portfolio of powered land in Finland
New financing and capital management strategy aims to drive accretion and minimize dilution for VivoPower shareholders
Renewable hydropower at sub-4¢/ kWh supports high-density AI training and inference economics
Acquisition consideration includes contingent value rights that ultimately have a conversion price of $15 per share – priced at a premium to market, aligning OGDC founders with VivoPower upside
OGDC co-founders, with over 75 years of collective experience, will join the VivoPower leadership team
LONDON, UK, Jan. 22, 2026 (GLOBE NEWSWIRE) — VivoPower International PLC (NASDAQ: VVPR) (“VivoPower” or the “Company”), is pleased to announce it has entered into a definitive agreement to acquire OGDC Pte Ltd (“OGDC”), an AI data center infrastructure developer with an economic interest in strategic powered land across Finland as well as other EU countries.
Through this acquisition, VivoPower will secure an economic interest in 291MW of strategic land across Finland, which is expected to be grid-connected within 12 months. Finland offers several inherent advantages for building AI data centers, including its secure infrastructure, cold climate, and supportive government policies.
Transaction Highlights:
- Shareholder Alignment and Share Price Premium: VivoPower expects the structure of the transaction to derisk the acquisition and align OGDC’s interests with those of VivoPower’s shareholders. Consideration comprises (i) approximately $13 million cash upfront to be paid from VivoPower’s cash reserves in February 2026 (upon closing) and (ii) contingent value rights that trigger the issuance of convertible preference shares with a conversion price of $15 per ordinary share, where conversion is triggered upon successful grid connections. This conversion price is at a premium to the current trading price, signaling the OGDC founders’ long-term conviction in VivoPower’s equity value.
- High-Density Scalability: Through this transaction, VivoPower secures an economic interest in 291MW of powered land ready for AI data centers, including high-security sites.
- Energy Economics: Power sourced from renewable hydropower at sub-4¢ per kWh, providing a competitive advantage for high-density AI training and inference.
- Hyperscaler Interest: OGDC is advancing discussions with operators and global Tier-1 hyperscalers.
- Institutional Leadership Integration: OGDC’s co-founders, Philip van Wolffen (Strategic Advisor), Shane Whelan (Chief Real Estate Officer), and Alex Cuppage (Chief Investment Officer), will become instrumental members of VivoPower’s leadership team and help spearhead the AI data center infrastructure rollout. Collectively, they bring 75+ years of institutional real estate and infrastructure experience.
Financing and Capital Management Strategy:
In collaboration with the OGDC team, VivoPower has formulated and will execute a financing and capital management strategy designed to minimize the need to raise equity capital unless it is accretive to shareholders. This involves raising project finance debt and mezzanine finance, refinancing stabilized income-producing assets, and recycling the net equity capital gain released to fund the development of new powered land sites at a high reinvestment rate of return.
- Optimise Project Level Financing: the targeted project finance breakdown is expected to be 65% senior debt, 15% mezzanine finance, and the remaining 20% in equity. VivoPower expects to be able to secure strategic equity participation from co-investors and to optimize how much of its own balance sheet equity it invests in each project.
- Refinance Stabilized Assets to Release Equity Upside: once operational and underpinned by long-term rental income streams, VivoPower plans to refinance AI data center infrastructure assets with incremental senior debt, unlocking significant equity gains and cash.
- Recycle Capital To Develop Other Projects: with the equity gains released from refinancing, VivoPower will then be able to recycle the capital to fund the equity component for new projects. It may seek to invite sovereign and institutional co-investors depending on the scale of the project(s).
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.”
The transaction is expected to close in February 2026, subject to customary closing conditions.
All amounts are in U.S. dollars unless otherwise stated.
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VivoPower To Acquire OGDC, Securing 291MW of Powered Sites in Finland with Sub-4¢ per kWh Renewable Power for Sovereign AI Data Centers, source
