PRESSR: UAE Hodler Investments and GCL Energy Investment partner to launch distributed energy infrastructure in Ethiopia

First published: 07-Nov-2024 09:27:47

• The agreement will entail the launch of distributed energy infrastructure that will utilize HODLER Investments’ digital energy platform, PermianChain, to monetize wasted energy such as flared gas to reduce CO2 emissions and to power AI and blockchain datacenter infrastructure.

Dubai, UAE: UAE Hodler Investments, a UAE based investment company headquartered in the Dubai, which includes in its portfolio energy, AI, and digital asset mining startups such as PermianChain, Brox Equity, NEXGEN, and others; and GCL Energy Investment,  subsidiary of GCL Group (Golden Concord Group), a leading Chinese integrated energy service provider that specializes in clean energy and new energy, with diversified development of related industries,  have partnered to develop a distributed energy infrastructure project to power next generation distributed compute cluster data centers that are hosting AI, Blockchain and other applications.

As per the Memorandum of Understanding, both Hodler Investments and Golden Concord Group will co-invest in feasible and suitable energy projects applying energy optimization and sustainable energy efficient technologies. Golden Concord Group will supply critical energy infrastructure that will monetize under-utilized energy in Ethiopia, with the aim of hosting global data center operators, while reducing carbon emissions.

Earlier in 2024, Ethiopia signed an agreement to develop infrastructure for data mining and AI, as it becomes a leading destination for Bitcoin mining. This is in line with Ethiopia’s “Digital Transformation Strategy 2025. In 2022 the Ethiopian datacenter market size was valued at $95 million and is expected to reach $226 million by 2028.

Ethiopia has about 5,200 MW of installed generation capacity, with around 90% of it coming from hydropower and the remaining 10% from wind and thermal sources.

The Ethiopian datacenter market size was valued at USD 95 million in 2022 and is expected to reach USD 226 million by 2028, growing at a CAGR of 15.54% during the forecast period.

Mohamed El Masri, Managing Director of HOLDER INVESTMENTS, stated, “Our strategic partnership with GCL Group will accelerate our mission to build distributed energy infrastructure to power compute clusters that optimize wasted energy resources regionally. It will offer equitable energy infrastructure that strengthens the African position for integrating data mining systems that support a sovereign digital economy.”

WANG Dong, Chief Executive Officer of GCL Energy Investment added, “Our partnership with HOLDER INVESTMENTS aims to solve various challenges facing the energy sector in Ethiopia. We believe that modern technology coupled with smart capital can accelerate decarbonization and address the renewable funding gap.”

 The strategic partnership with GCL Energy comes after HODLER INVESTMENTS has announced its ongoing plans for a $500 million Digital Energy Infrastructure (DEI) Fund with the participation of UAE based GEWAN holding. The DEI will be established as a closed-ended Fund, subject to compliance and regulatory approvals. The DEI Fund has already secured soft commitments from lead investors and in-kind contributions in addition to offtake partners seeking energy and connectivity for A.I. and digital asset mining operations.

About GCL Group

Golden Concord Group Limited ( “GCL” ) is an integrated energy service provider that specializes in clean energy, new energy, with diversified development of related industries. The businesses of GCL cover Power generation, Photovoltaic  Industry Chains, Oil & Gas, Green Smart City, and Digital AI-powered Energy Management. Meantime, it proactively deploys semiconductor material, power battery, and Energy Internet. Holding several listed companies including GCL Technology, GCL Energy Investment, GCL System Integration and GCL New Energy, GCL’s footprints have been across 31 provinces and regions in mainland China, Hong Kong SAR,  as well as Africa, North America, Southeast Asia and Europe. Being a leading new energy enterprise among Top 500 Chinese enterprises in 2024, GCL has been ranking the second among Top 500 global new energy enterprises.

https://www.gcl-power.com/

About Hodler Investments

HODLER INVESTMENTS FZCO (“HODLER) is an investment company based in Dubai Silicon Oasis. HODLER takes a long-term view of digital assets infrastructure. HODLER's approach is to deliver financial efficiency across its investment activities by structuring and leading alternative investment solutions that create digital wealth with a focus on digital assets, digital energy, data mining and Web3.0. Bringing wealth of expertise from the financial services sector, renewable energy and valuable relationships with independent power producers (IPPs), and international blockchain data canter operators, the Managing Partner is providing the seed capital to establish the Fund and is leading efforts on sourcing, originating and analyzing deals for the Fund, to make informed recommendations to the Fund Manager on the Fund’s investment mandates.

Hodler recently announced the launch of $500 million Digital Energy Infrastructure Fund (DEI) as a closed ended exempt Fund subject to compliance and regulatory approvals. The DEI Fund has already secured soft commitments from lead investors and in-kind contributions in addition to offtake partners seeking energy and connectivity for A.I. and digital asset mining operations.

Media contact Lara Abdul Malak lara@permianchain.com

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