Soluna Closes $53M Wind Farm Acquisition, Projecting Up To $11M Year-One EBITDA
Summary
Soluna Holdings has closed the acquisition of the 150 MW Briscoe Wind Farm for $53 million, a highly material transaction relative to its $66 million market capitalization. This strategic move achieves full vertical integration for Project Dorothy, securing long-term energy certainty and eliminating reliance on third-party power purchase agreements. The acquisition is expected to be immediately accretive, projecting $6 million to $11 million in Year-One Adjusted EBITDA and $20 million to $24.4 million in annualized revenue, providing a significant financial boost following recent disclosures of recurring losses and going concern doubt. This also positions the company to advance development of Project Dorothy 3, a planned 300 MW+ renewable-powered AI campus expansion, which will be a key growth catalyst.
At the time of this announcement, SLNH was trading at $0.65 on NASDAQ in the Technology sector, with a market capitalization of approximately $66.3M. The 52-week trading range was $0.36 to $5.14. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.