Soluna Signs PPA with EDF Renewables for Texas Data Center Project

Source: www.gulfoilandgas.com 5/22/2024, Location: North America

Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), a developer of green data centers for intensive computing applications including Bitcoin mining and AI, announced today that it has signed a definitive Power Purchase Agreement (PPA) for Project Kati with EDF Renewables and Abu Dhabi Future Energy Company – Masdar (Masdar), marking a significant milestone in the company's growth trajectory.

Project Kati is Soluna’s second Renewable Computing data center project in Texas. It will be co-located at a wind facility owned by EDF Renewables and Masdar. Project Kati will be executed in two phases, with each phase delivering 83 MW of renewable energy capacity to power high-performance computing applications including AI. Upon completion, the project is poised to unlock up to 166 MW of new hosting and joint venture potential, a testament to the company's dedication to innovation and growth. The upcoming phases of the project will focus on securing land leases and navigating ERCOT planning requirements, crucial steps in the development process.

With the signing of the PPA, Soluna solidifies its ownership of the project, positioning it strategically in the renewable energy market. This partnership reaffirms Soluna’s position as a formidable player in the renewable energy sector and underscores the Company's commitment to expanding its footprint and contributing to a sustainable future.

"This milestone demonstrates our growth and momentum in shovel-ready projects and highlights our commitment to sustainable energy solutions," said John Belizaire, CEO of Soluna Holdings. "We are excited about the opportunities this project presents, not only in expanding our Assets Under Management but also in contributing to advancements in AI technology."

Soluna continues its tradition of naming its data centers after women scientists who help catalyze major innovation. Project Kati is named after Kati Kariko, a Hungarian scientist who was instrumental in the development of mRNA-based protein therapies. Her decades of relentless work have helped form today’s modern mRNA vaccines.


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