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ENGIE teams up with Cipher Mining to power Texas data center

1. Cipher Mining to purchase 300 MW of clean energy from ENGIE. 2. Agreement enhances grid stability and mitigates curtailment issues. 3. Partnership supports renewable energy use in data centers. 4. ENGIE focuses on increasing power supply demands in the U.S. 5. ENGIE is a leader in global power purchase agreements.

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Why Bullish?

The renewable energy agreement is likely to reduce operational costs for CIFR, boosting investor confidence. Historical partnerships between energy providers and tech companies have led to successful growth.

How important is it?

The agreement significantly reinforces CIFR’s operational capacity, making it a notable event for stakeholders. Increased focus on renewable energy aligns with broader market demands for sustainability.

Why Long Term?

The implications of more sustainable energy use will unfold over several quarters. Companies with renewable agreements tend to see steady growth in valuations as they align with market trends.

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ENGI
, /PRNewswire/ -- ENGIE North America (ENGIE) announced it has entered into a preliminary agreement with Cipher Mining Inc. (NASDAQ:CIFR) ("Cipher") to enter into a power supply agreement to power a Cipher data center in Texas. Once executed, the agreement would allow Cipher to purchase up to 300 megawatts (MW) of clean energy from one of ENGIE's wind facilities. The new arrangement would leverage the wind project's renewable energy generation to power the co-located data center, helping to alleviate an already congested transmission area. This helps offset basis risk and mitigate curtailment challenges especially in regions like West Texas, where wind and solar resources are abundant but often face constraints due to transmission bottlenecks and curtailment. By pairing the data center with renewable energy, this strategic collaboration supports the use of surplus energy during periods of excess generation, while enhancing grid stability and reliability. "ENGIE is committed to pursuing innovative solutions that maximize the value of renewable generation and improving cost effectiveness of delivering clean energy supply to our customers," said David Carroll, Chief Renewables Officer & SVP, ENGIE North America. "We are focused on meeting the growing need for power by our customers as they expand their operations in the U.S. and renewables is an essential part of supplying this increasing demand." This agreement continues to reflect ENGIE's position as one of the leading providers of power purchase agreements globally. About ENGIE North AmericaBased in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE, a major player in the energy transition, whose purpose is to accelerate the transition towards a carbon-neutral economy. With 98,000 employees in 30 countries, the Group covers the entire energy value chain, from production to infrastructures and sales. ENGIE combines complementary activities: renewable electricity and green gas production, flexibility assets (notably batteries), gas and electricity transmission and distribution networks, local energy infrastructures (heating and cooling networks) and the supply of energy to local authorities and businesses. Every year, ENGIE invests more than €10 billion to drive forward the energy transition and achieve its net zero carbon goal by 2045. ENGIE (ENGI), is listed on the Paris and Brussels Stock Exchanges.  For more information on ENGIE in North America, please visit our website at www.engie-na.com or our LinkedIn page at www.linkedin.com/company/engie-north-america-inc. Contact:ENGIE North AmericaMichael Clingan, External Relations[email protected]832-745-6057 SOURCE Engie North America Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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