Kalina Power Limited has taken a significant step in its expansion strategy by signing a Memorandum of Understanding (MOU) with a major US-based data center developer. This non-binding but detailed agreement sets out the terms for the joint development of artificial intelligence-focused data centers, which will be powered by energy projects from natural gas with CO₂ capture and sequestration CO₂ capture and sequestration..
About the data center agreement
Kalina’s wholly owned Canadian subsidiary, Kalina Distributed Power (KDP), was responsible for signing this MOU. The agreement highlights the collaboration between the two companies to obtain permits and meet the necessary regulatory requirements for each project facility. The execution of this project development agreement (PDA) will be key to securing financing and advancing the construction of the facilities.
[post_relacionado]Ross MacLachlan, CEO of Kalina, underscored the magnitude of this opportunity for Alberta, describing it as a potential injection of up to $100 billion into the local economy. MacLachlan noted that the company’s low-CO₂ energy projects are well positioned to meet the growing demand for electricity in the data center sector.
For his part, Matthew Jenkins, non-executive director, noted that this MoU not only paves the way for project financing, but also strengthens Kalina’s position in the clean energy market by providing an attractive framework for debt and equity investors.
This agreement marks a significant step forward in the company’s approach to decarbonization and the integration of advanced technological solutions in clean energy generation, which promises to have a lasting impact on the development of sustainable infrastructure in North America.
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Source: Kalina Power
Photo: shutterstock