Shares of T1 Energy Inc. (NYSE:TE) are trading higher Thursday morning following news that local government officials in Mo i Rana, Norway, approved a rezoning permit for a portion of the company’s Giga Arctic campus.
T1 Energy shares are climbing with conviction. Why is TE stock up today?
Mo i Rana Approval Paves Way For Up To 396 MW Data Center Expansion
According to a corporate announcement released Thursday, the municipal committee approved rezoning for 161,000 square feet of the 926,000-square-foot facility for either industrial or data center operations.
The regulatory approval allows T1 Energy to move forward with plans to convert the legacy site into a data center as part of its broader portfolio value optimization initiative.
