EDF Renewables North America and Masdar Sign Power Purchase Agreement with Soluna Holdings

Las Majadas wind project will supply clean power to co-located data center;
Agreement provides an innovative solution to capture under-utilized electricity from wind farm.

SAN DIEGO & ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--EDF Renewables North America and Abu Dhabi Future Energy Company – Masdar, co-owners of the Las Majadas Wind Project, have entered into a power purchase agreement (PPA) with data center developer and operator Soluna Holdings, Inc. (Soluna), (NASDAQ: SLNH).

Under the terms of the agreement, Soluna will purchase up to 166 megawatts (MW) of energy produced by the Las Majadas Wind Project to power a Soluna data center to be built close to the wind project’s substation.

Soluna’s data center, named Project Kati, will utilize behind-the-meter power generated by the wind project, while also curtailing their operations under certain market conditions when energy is most needed by the grid. This innovative PPA structure provides a flexible solution to the challenges of transmission constraints and curtailment, essentially allowing an alternate route to capture under-utilized electricity. In parallel, it provides clean power to an energy intensive operation—advanced computing applications, including artificial intelligence (AI).

Electricity consumption from data centers is growing and expected to reach 1,000 TWh, with the AI boom driving increased global demand. Renewable energy is expected to play a key role in supplying data centers with electricity, while helping suppliers meet net-zero targets.

According to Gabe Messercola, Associate Director, Capital Improvements Portfolio Management at EDF Renewables, “Behind-the-meter offtake opportunities present a unique advantage for market-exposed renewable projects by physically delivering a portion of a plant’s power directly to a co-located buyer’s facility. We are pleased to collaborate with Soluna to secure a win-win situation.”

Dustin Priemer, Director of Asset Management, Masdar Americas said, “As data centers continue to expand across the U.S., energy demand is rising exponentially, putting increasing pressure on infrastructure. This agreement not only provides an innovative solution to maximize the efficiency of electricity generated at Las Majadas but also allows Soluna to power its new data center with renewable energy—helping to ease concerns about the strain on the grid."

Las Majadas Wind, located in Willacy County in southern Texas, has a total capacity of 273 MW and became operational in 2021.

About EDF Renewables North America

EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distribution-scale power: solar and storage; asset optimization: technical, operational, and commercial expertise to maximize performance of generating projects, and onsite solutions, through the Company’s PowerFlex subsidiary, offering a full suite of onsite energy solutions for commercial and industrial customers: solar, storage, EV charging, energy management systems, and microgrids. EDF Renewables’ North American portfolio consists of 23 GW of developed projects and 16 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renewables, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com. Connect with us on LinkedIn, Instagram and Facebook.

About Masdar

Masdar (Abu Dhabi Future Energy Company) is one of the world’s fastest-growing renewable energy companies. As a global clean energy leader, Masdar is advancing the development and deployment of solar, wind, geothermal, battery storage and green hydrogen technologies to accelerate the energy transformation and help the world meet its net-zero ambitions. Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of 51 gigawatts (GW), providing affordable clean energy access to those who need it most and helping to power a more sustainable future. Masdar is jointly owned by TAQA, ADNOC, and Mubadala, and is targeting a renewable energy portfolio capacity of 100GW by 2030 while aiming to be a leading producer of green hydrogen by the same year.