Marwynn signs Grenada MoU for $500m solar and AI data center

Marwynn Holdings signed a non-binding agreement with Grenada National Resort to explore a solar plant and an AI data center in Grenada that the parties estimate would cost about $500 million. No power capacity has been given; final capacity, site configuration and commercial structure are to be settled after feasibility studies.

Marwynn describes the $500 million as a planning estimate, not a commitment, with no set split between the solar and data center components. Actual investment could be lower or different. The memorandum of understanding runs 24 months and bars the resort from negotiating with third parties on a similar project without Marwynn's consent. Either side can terminate on 30 days' notice, and Marwynn can end the agreement immediately if it decides the project is not feasible.

For an allocator, the interconnection approval and the land terms must be settled before any capital commitment can be priced. Grid connection must be coordinated with and approved by local utilities. The land comes from the Resort, which intends to contribute or otherwise make land available; its size and value are undetermined.

The project, named the NexaCore AI & Renewable Energy Infrastructure Campus, would pair solar generation and battery storage with an AI data center, the company said. The solar plant would supply the data center directly, with surplus power sold to the grid where commercially viable. NexaCore Technologies, the Marwynn subsidiary formed in April 2026 to develop AI data centers, will start technical, environmental, land and title, energy, connectivity and financial evaluations. Grenada National Resort is a luxury tourism and real estate development at Levera on the island's northern coast; HSG International, the international spin-off of Sequoia Capital China, is building and managing it.

"Power supply is the hardest constraint in AI infrastructure," said Yin Yan, chief executive of Marwynn. "In Grenada, we have a land partner and a site where we can evaluate building generation and computing capacity together, sized to each other from the start."

Marwynn said it may source GPUs directly or through NexaCore from technology providers. Financing could come from project equity, strategic and institutional investors, infrastructure funds, project and equipment financing, and capital markets transactions. Any government approval or incentive is subject to Grenadian law, the company said. The capital decision, if it comes, follows the studies.