CoreWeave Norway data center, Agder, Norway

CoreWeave, the American AI cloud company, is a tenant at Bulk Infrastructure's N01 data center campus at Stoleheia, between Kristiansand and Vennesla in Norway's Agder region, at Stolevegen 39 in Øvrebø. Bulk said it has secured 400 megawatts of capacity for CoreWeave at the roughly 300-hectare site, with room to grow toward 1 gigawatt, as part of a $2.2 billion investment CoreWeave announced across Europe in 2024. Bulk said the campus runs on hydropower with direct connections to hydroelectric stations and to one of Europe's largest transformer stations.

The power grid to carry that load is now approved. On January 8, 2026, the Norwegian Energy Regulatory Authority granted Statnett and Glitre Nett a concession to build the Stemmen transformer station at Stoleheia, and gave N01 Utilities, a Bulk subsidiary, permission for two connecting power lines. Ingrid Myrtveit, a section chief at the regulator, said the station would give the Agder grid more capacity and flexibility, and the regulator attached conditions protecting meadows and wetland forest.

Bulk has told grid operator Statnett the full N01 campus, of which the CoreWeave building is one part, could need 2 gigawatts of electricity in the 2040s, roughly what all of Agder produces today. The region already pays Norway's highest electricity prices and runs a power deficit. Bulk employs 83 people permanently at the site and pays Vennesla municipality 258,000 kroner a year in property tax.

More than half of Bulk Infrastructure Holding AS is held through holding companies abroad: BGO Europe IV King II Holdco in Luxembourg owns 30 percent, BGO King Holdco Sarl in Luxembourg 15 percent, and Geveran Trading in Cyprus, controlled by shipping magnate John Fredriksen, 7.5 percent. Norway's minister of digitalisation and public governance, Karianne Tung, said she was pleased to hear of the CoreWeave collaboration and that the government's goal is a national AI infrastructure by 2030.