Norway is set for an influx of new data centre projects after a tax rule change prompted Statkraft to begin discussions with major companies.
The country has been left behind by its Scandinavian neighbours in recent years, with both Google and Apple among those planning to construct significant data centres in the region.
A property tax break for exempted data centres was introduced at the start of the year, however, and it's now expected that businesses will look to exploit Norway's abundance of hydroelectric power.
Statkraft - the country's leading power supplier - recently diversted its entire portfolio of offshore wind assets for upwards of €1.5bn, with that money set to be reinvested.
"You had unnecessary taxation in this business and this risk is now gone. We are working hard to get some contracts signed but I couldn’t say by when," its CEO Christian Rynning-Toennesen told Reuters.
"Competition is tough but we have a good offering. (Norway is now) a good place to establish an advanced computer based business."