Hodler Investments & GCL Energy Partner with $500M Fund to Boost Ethiopia’s Digital Economy
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Hodler Investments, an investment firm from the UAE, has partnered with GCL Energy Investment to start a new energy project in Ethiopia. However, the goal is to build the energy infrastructure needed to power advanced data centers, which will support the country’s growing technology sector.
The two companies will invest in energy projects to make better use of Ethiopia’s electricity and help power these data centers.
The Addis Ababa–Djibouti Railway is East Africa’s first standard-gauge electrified #railway. It has trained many technicians for #Ethiopia and #Djibouti. A CREC employee from Ethiopia said, “I am full of hope for this railway’s future. Thanks, my Chinese friends!”🤩 pic.twitter.com/K6UXStUdef
— China Railway Engineering Corporation (@CRECofficial) November 7, 2024
GCL Energy Investment, part of the Golden Concord Group, will provide energy solutions for the project. They will help use Ethiopia’s unused electricity to meet the growing demand from data centers. The partnership aims to build a strong energy network to support next-generation computing centers.
It is worth noting that Ethiopia is working to grow its data center market, which was worth $95 million in 2022, with a goal to reach $226 million by 2028. Therefore, the partnership between Hodler Investments and GCL Energy Investment will help achieve this by providing the energy infrastructure needed to support this growth.
GCL Group & Hodler Investments: Leaders in Energy and Digital Assets
Notably, Golden Concord Group Limited (GCL) is a leading energy company specializing in clean and new energy. GCL operates in areas like power generation, solar energy, oil and gas, smart cities, and AI-powered energy management. It also invests in semiconductor materials, power batteries, and the Energy Internet. With a strong presence in China and globally, GCL ranks as one of the top new energy companies, both in China and worldwide.
Hodler Investments FZCO, based in Dubai, focuses on digital asset infrastructure, investing in digital energy, data mining, and Web3.0. The company recently launched a $500 million Digital Energy Infrastructure Fund (DEI) to support AI and digital asset mining operations, securing commitments from investors and strategic partners.
Mohamed El Masri, managing director of Hodler Investments, discussed his firm’s partnership with GCL Group, a Chinese energy provider. He said the partnership will help quickly build energy infrastructure for data centers, which are essential for managing large amounts of digital data. They plan to focus on using wasted energy resources in the region more efficiently.
El Masri highlighted that the partnership will offer fair and accessible energy infrastructure, improving energy access in Africa. This will help support the continent’s digital economy. The project aims to provide a stable power supply for data centers, creating better energy solutions for the region.
However, the goal is to support data mining systems that are crucial for Africa’s digital growth. This partnership will boost Africa’s digital economy by providing reliable energy for data centers, and supporting growth in data mining and technology. It opens investment opportunities, strengthens Africa’s digital infrastructure, and enhances its position in the global digital market.
GCL Energy and Hodler Investments Partner to Boost Ethiopia’s Energy Sector and Digital Economy Growth
Wang Dong, CEO of GCL Energy Investment, expressed optimism about the partnership with Hodler Investments. He believes it will help address challenges in Ethiopia’s energy sector. Dong also said combining funding with modern technology will speed up efforts to cut carbon emissions and increase renewable energy funding.
Before partnering with GCL Energy Investment, Hodler Investments launched a $500 million fund called the Digital Energy Infrastructure (DEI) Fund. The fund aims to invest in energy projects that support the digital economy, focusing on energy infrastructure for data centers and computing systems.
This partnership and the DEI Fund highlight Hodler Investments’ focus on improving energy systems and supporting digital technologies. By investing in modern energy solutions, both companies aim to help Ethiopia and other regions boost energy access, reduce emissions, and drive economic growth through digital progress.
