FEATURE : NETWORKS
Framework for joint development of multiple Crusoe AI focused data centers co-sited with KALiNA ’ s near-zero-emissions natural gasfired power plants using carbon capture and sequestration .
Each potential co-sited project is to be developed under a separate Project Development Agreement ( PDA ) between KDP and Crusoe ( or their affiliates ) as a Crusoe owned and operated AI data center contracting for affordable power with an adjacent , co-sited KALiNA owned and operated Power-CCS plant .
It is anticipated that power will be supplied from each Power-CCS Plant to the adjacent AI focused data center pursuant to a power purchase agreement ( PPA ) with an investment grade or otherwise credit worthy counterparty of at least 15 years which will provide KALiNA with stable , long-term cash flows with which to finance each Power-CCS project .
KALiNA Power Limited has confirmed its wholly owned Canadian subsidiary , KALiNA Distributed Power Limited ( KDP ) has entered into a multi-year Framework Agreement with Crusoe for the joint development of Crusoe ’ s AI data centers projects co-sited with KDP ’ s 170 MW near-zero-emissions natural gas power plants using carbon capture and sequestration ( Power-CCS ) in Alberta , Canada .
Each of KALiNA ’ s 170 MW Power-CCS plant represents gross unlevered capex of ~ CAD $ 1 billion which is ~ CAD $ 640 million net of cash rebate incentives .
Each of KDP ’ s current potential project locations are strategically located sites near electrical transmission , gas pipeline infrastructure , carbon sequestration hubs and fibre optic lines . The initial three project locations are presently comprised of KDP ’ s Myers Energy Park , the Alsike Energy Park and the newly secured Crossfield Energy Park location .
The Framework Agreement supports the establishment of Crusoe ’ s data center footprint in Alberta in a sustainable and commercially scalable manner by utilizing KDP ’ s near-zeroemissions power under a contracting arrangement which complies with Alberta ’ s selfsupply requirements .
The Framework Agreement commits KDP and Crusoe to use reasonable commercial efforts to complete a PDA . Each PDA will include an indicative long-term tolling PPA as well as provisions for the funding by Crusoe of certain electrical interconnection and gas supply interconnection security payments for each related project .
KALiNA Power and Crusoe sign framework agreement for joint development of multiple co-sited AI data center projects in Alberta
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