Auzzi Shopping

Men's Weekly

.

Pow.re secures 100 MW of renewable power in Paraguay and welcomes two industry veterans to the advisory board

  • Written by Auzzi Shopping

MONTREAL (QC), CANADA - Media OutReach - 8 March 2023 - Pow.re Holdings Limited ("Pow.re" or the "Company"), a high-density computing ("HDC") and fintech enterprise, has entered into a binding agreement with a local partner to secure a 100 MW power allocation at a fixed rate for 5 years from ANDE's newly built Yguazu substation in Paraguay.



This week, construction began on the power transformation and computation center infrastructure at Pow.re's 8.5 hectare site directly adjacent to ANDE's newly commissioned substation.

On February 26th, 2023, ANDE, Paraguay's national public utility, energized the first of three 500 kV transmission lines between the Itaipu dam and Yguazu. ANDE President, Felix Sosa, announced on Twitter that Paraguay would "for the first time in history be able to withdraw 100% of the power corresponding to it in the ITAIPU Binacional, thus achieving our national energy sovereignty". The Itaipu dam is the third largest in the world with a 14 GW production capacity, the ITAIPU Binacional agreement entitles Paraguay and Brazil to consume 50% of this capacity each (historically, Paraguay has sold the bulk of its share of Itaipu power capacity to Brazil).

The project is a singular opportunity to generate emission-free computing power from a world-class hydroelectric power plant, made even more timely as the US energy sector has been plagued with soaring electricity prices due to regional reliance on natural gas. Pow.re Director of Engineering, Maxime Bisaillon stated, ''This is a unique opportunity to access a large amount of 100% renewable power at a competitive price. We believe this set of circumstances doesn't exist anywhere else in the world'' adding, "This further validates our position that stranded sustainable power can be put to use for the mutual benefit of green power producers like Paraguay and HDC enterprises like Pow.re''

When fully operational, the Yguazu site would allow Pow.re to produce an additional estimated 4.5 EH/s (exahash per second) of computing power.

In conjunction with deploying this project, the Company also welcomes Andres Romero and Matthew Carson as advisors. Mr. Romero has an extensive understanding of the South American business landscape and the digital asset mining sector, while Mr. Carson brings a wealth of experience deploying large-scale projects such as Project Spokane and Whinstone. Both advisors formerly held positions at Canaan Creative (NASDAQ: CAN) and Northern Data (ETR: NB2) and are respected industry veterans that will help advance the Company's business development goals.

Hashtag: #Pow.re

The issuer is solely responsible for the content of this announcement.

About Pow.re Holdings Limited

Pow.re is a high-density computing operator deploying data centers in proximity to sustainable stranded energy sources to produce computing power. Pow.re will leverage its growing production to commodify computing power markets for hedging and investment.

Company Website :
LinkedIn :
Twitter : @powremines

Today's Features at Auzzi

How Does a Waterproof Dog Bed Keep Your Pet Healthier and Happier?

Every dog needs a comfortable place to rest after a long day of play, running, or guarding the house. Just like people, dogs rely on good sleep to stay healthy, relaxed, and full of energy. ...

The Digital Marketing Blueprint for Aussie Local Businesses in 2025

Source: pexels.com The way Australians search, shop, and connect with local businesses is shifting fast in 2025. Customers expect to find you online instantly whether through Google Maps...

Building Stability and Strength with Professional Piling Construction

Every successful construction project begins with a strong and reliable foundation. When surface soil conditions are not capable of supporting heavy loads, builders turn to deep foundation...

Rejuvenate Your Skin with Laser Skin Tightening

As we age, the skin naturally loses elasticity due to a reduction in collagen and elastin production. While surgical facelifts were once the primary option for addressing these issues, mod...

Reliable Bonding Solutions with 3M Double Sided Tapes and Foam Tape

Across industries such as construction, automotive, electronics, and packaging, businesses rely on trusted adhesives to ensure durability and precision. One brand that has set the global s...

Comfort and Care for Babies with Huggies Nappies

When it comes to caring for babies, parents want only the best in comfort, safety, and convenience. One of the most important everyday essentials is nappies, which play a major role in kee...

Convenient Waste Solutions with Affordable Rubbish Bin Hire

Managing waste effectively is a challenge that both households and businesses face daily. Whether it’s a small home clean-up, a renovation project, or a large commercial operation, findi...