Rabat - Blockchain firm Soluna, backed by New York private equity firm Brookstone Partners, has announced plans to develop a 900-megawatt wind farm power plant in Dakhla, in Morocco’s southern provinces.
Rabat – Blockchain firm Soluna, backed by New York private equity firm Brookstone Partners, has announced plans to develop a 900-megawatt wind farm power plant in Dakhla, in Morocco’s southern provinces.
Brookstone will finance the flagship project, investing $100 million initially to construct the first 36 MW turbines.
The entire project will cost the company an estimated $3 billion.
The managing director of Brookstone, Michael Toporek, said that the company has “exclusive rights to the area for a wind farm but the issue was there’s no real place to put the electricity.”
He added, “These days, what you can do with stranded power is set up a computing center, develop this as an off-grid project.”
According to Business Wire, the project will cover an area of 37,000-acres with the potential to generate 900 megawatts of wind power.
Brookstone founded Soluna in 2018 to power the blockchain-economy with clean, low-cost renewable energy.
Soluna aims to power “the coming wave of blockchain technologies, networks, and distributed applications.” Soluna will provide “green, renewable, low-cost computing power for the evolving demands of the blockchain ecosystem and compliant with the local regulations,” according to Business Wire.
Business Wire also recalled King Mohammed VI’s vision to reinforce the country’s renewable energy.
In April, King Mohammed VI chaired a working session at the Royal Palace in Rabat to review the progress of the Moroccan Agency for Sustainable Energy (MASEN).
During the session, Moroccan officials presented the monarch with forecasts for when the Noor solar power plants would enter into service in 2018.
The solar power plant called Noor-Ouarzazate is one of the largest solar energy complexes in the world.
Throughout recent years, Morocco has focused on the significance of renewable energy. Morocco has also established itself as one of the most active African countries in the sector.
In April’s working session, the King expressed satisfaction with Morocco’s progress in renewable energies, urging operators to maintain and strengthen mobilization in the sector, to make it an economic engine of the country.