Applied Digital Announces Long-Term Supply Agreement With TerraForm Power
Portfolio Pulse from Benzinga Newsdesk
Applied Digital Corporation (NASDAQ:APLD) has entered into a long-term Retail Electric Service Agreement with TerraForm Power for a 200-MW datacenter in Garden City, Texas. The datacenter will interconnect with TerraForm's Wind Farm, facilitating low-cost power and alleviating transmission congestion. This partnership highlights Applied Digital's industry-leading digital infrastructure platform and TerraForm Power's commitment to providing energy solutions.
December 19, 2023 | 1:18 pm
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POSITIVE IMPACT
Applied Digital's long-term power supply agreement with TerraForm Power for its Texas datacenter is expected to provide cost efficiencies and support the company's growth in high-performance computing infrastructure.
The agreement with TerraForm Power is likely to have a positive impact on APLD's stock price in the short term due to the potential for reduced operational costs and enhanced sustainability of its datacenter operations. The deal also demonstrates the company's commitment to leveraging renewable energy, which could attract positive investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100