Azure Energy Prepares 1,500 MW Mississippi Power Project for Market
Algorhythm Holdings, Inc. (NASDAQ: RIME) provided an operational update on October 23 on a 1,500 MW combined renewable natural gas and biomass power project in Mississippi for which its Azure Energy unit serves as strategic advisor. Engineering for the project is nearly complete, and it is being marketed to potential tenants, including data centers and advanced manufacturing facilities that would co-locate on site.
The $7.34 billion project will sit on a 1,664-acre site in north-central Mississippi. It combines 500 MW of biomass pyrolysis-to-power generation, 1,000 MW of natural gas generation and a 150,000-ton absorption chilled water plant, with all output delivered behind the meter to a single co-located large-load tenant. The campus is expected to become operational in three phases, the first delivering about 250 MW within 18 months of notice to proceed and full capacity within 54 months. Phase II engineering is scheduled for completion in October 2026, and the Independent Engineer report is due in December 2026.
Azure holds a 10 percent equity stake and expects about $5 million in fee income in 2027. If completed, the project is projected to earn Azure about $40 million in annual EBITDA; alternatively, it could be sold after final permitting in early 2027 at an estimated value of up to $1.66 billion, putting Azure's stake at about $166 million. The company expects to select capital markets partners before the end of the fourth quarter of 2026, with full marketing expected in early 2027.
Source: GSM·America
Source: GSM · USA (original Chinese edition)
Photo: 图：联合循环发电厂（资料图）。摄影：Doc Searls，CC BY 2.0，经 Wikimedia Commons。 / Photo: a combined-cycle power plant (file photo), by Doc Searls, CC BY 2.0, via Wikimedia Commons.
