The United Arab Emirates (UAE) investment firm Hodler Investments has partnered with GCL Energy Investment to develop a distributed energy infrastructure project in Ethiopia. The project is expected to power next-generation distributed compute cluster data centers. Under the terms of the partnership, Hodler Investments and GCL Energy Investment, a subsidiary of Golden Concord Group, will jointly invest in feasible and suitable energy projects.
According to a statement, Golden Concord Group will provide the energy infrastructure needed to monetize Ethiopia’s underutilized electricity while supporting the operations of data center operators. Boosting infrastructure to support data centers aligns with Ethiopia’s goal of growing its data center market size from $95 million in 2022 to $226 million by 2028.
Commenting on his firm’s partnership with the Chinese integrated energy service provider, Mohamed El Masri, managing director of Hodler Investments, said:
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, CEO of GCL Energy Investment, expressed hope that the partnership with Hodler Investments will help “solve various challenges facing the energy sector in Ethiopia.” He added that the latter’s funding, when combined with modern technology, can accelerate decarbonization and address the renewable funding gap.
Prior to announcing its partnership with GCL Energy Investment, Hodler Investments unveiled a $500 million Digital Energy Infrastructure (DEI) Fund. The fund’s objective is to invest in energy infrastructure projects that support the growth of the digital economy.
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