Kazak green energy developer AQGroup and Singaporean digital fintech group MVGX have signed a Memorandum of Understanding (MoU) outlining plans to construct a renewable hybrid plant to supply AQGroup's data centers in Kazakstan.
The hybrid plant will consist of wind, solar, and battery energy storage systems.
In addition, the MoU lays the groundwork for establishing a joint carbon credit trading exchange in Kazakhstan.
The partners plan to establish a dedicated investment fund to be distributed by Metaverse Green Exchange, a capital market service license holder under the MVGX Group, to special classes of investors.
The fund seeks to attract financing for the construction and operation of the hybrid plant. In addition, AQGroup and MVGX have indicated an openness to collaborating with partners and inviting potential investors, equipment manufacturers, energy storage system suppliers, and experienced EPC contractors.
Dr Bo Bai, the executive chairman and co-founder of MVGX Group, said: "By combining our efforts with AQGroup's extensive experience in green energy and Data center operation, including digital mining, we aim to create a powerful platform that not only supports environmentally sustainable practices but also establishes a global hub for sustainable green digital mining and carbon credit trading."