Marwynn Holdings Sign MOU to Study $500 Million Solar Data Center Campus in Grenada

Marwynn Holdings, Inc. (NASDAQ: MWYN) disclosed that it has signed a non-binding Memorandum of Understanding with Grenada National Resort covering the proposed NexaCore AI & Renewable Energy Infrastructure Campus, a solar power plant paired with an artificial intelligence data center on land within or associated with the Resort in Grenada.

NexaCore Subsidiary to Lead Development of Combined Power and Computing Project

Development, technology implementation, and daily execution will be handled by NexaCore Technologies, Inc., a wholly-owned Marwynn subsidiary operating under the parent company's oversight. NexaCore was established by Marwynn in April 2026 to build AI computing infrastructure and technical services. The MOU provides the subsidiary with a defined site and a land partner for evaluation purposes.

Under the concept, on-site solar generation and battery storage would feed GPU-based computing capacity, with the solar facility designed to meet the data center's electricity requirements and, where commercially viable, market surplus power.

The campus would target regional and international customers and could serve as a foundation for Marwynn's wider international operations. The resort, characterized as a government-supported tourism and investment undertaking in Grenada, plans to contribute or otherwise make land available and to help coordinate engagement with Grenadian authorities, utilities, and regulators.

Indicative Budget and Exclusivity Window

The disclosed key terms point to an aggregate project scale of roughly US$500 million spanning both the solar and data center components, with no predetermined allocation between the two.

Marwynn describes the figure strictly as a planning estimate, not a binding commitment. The agreement carries a 24-month exclusivity period, which the parties intend to use for land, grid, and connectivity studies ahead of any capital deployment. Final capacity, site configuration, and commercial structure will only be settled after the technical and feasibility studies outlined in the MOU are completed.

Chief Executive Frames Power as the Binding Limitation

"Power supply is the hardest constraint in AI infrastructure. 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," said Ms. Yin Yan, CEO of Marwynn Holdings. She added that the MOU grants 24 months of exclusivity to validate the approach through land, grid, and connectivity studies before capital is committed.

Linking the deal to the subsidiary's origins, Ms. Yan said the company described NexaCore at its April founding as a measured step that would expand with available capital and equipment, and called Grenada the first site where that plan can be applied. She stated the intention to build the campus in phases, sizing each according to feasibility studies and financing support, and to serve AI customers across regional and international markets.

Energy Infrastructure Under Evaluation

On the power side, the parties are evaluating the development, financing, construction, ownership, and/or operation by NexaCore of a solar photovoltaic generation facility in Grenada as a commercial infrastructure asset.

Battery energy storage and energy management systems would align solar output with the data center's demand. Substations, interconnection facilities, and transmission infrastructure would be coordinated with local utilities and remain subject to their approval. Where viable and agreed with the relevant parties, power not consumed by the data center could be sold through offtake arrangements or other commercial structures.

Computing Capacity and Services Envisaged

The computing evaluation covers GPU and high-performance computing infrastructure, which Marwynn may procure directly or through NexaCore from leading technology providers, contingent on commercial availability, financing, customer requirements, and definitive technology arrangements. Planned services span AI training and inference capacity, cloud and hosting services, and data storage for regional and international customers, together with cybersecurity, cooling systems, and supporting technology infrastructure suited to international commercial operations.

The framework imagines an integrated design in which the solar plant and the data center function as complementary elements of a single renewable-powered platform, although Marwynn keeps the option to structure and run each component separately where commercially appropriate.

Land, Connectivity, and Regulatory Path

Site work under review includes identifying and reserving land within or associated with the Resort, covering acreage, boundaries, title, permitted use, development rights, access, and utilities. Telecommunications and international connectivity planning would move forward with the Resort's facilitation, alongside grid, interconnection, access roads, and related site infrastructure. Shared infrastructure between the campus and the broader Resort development is also a possibility, depending on technical and commercial feasibility. The Resort commits, using commercially reasonable efforts, to coordinate with relevant Grenadian ministries, agencies, regulators, and utilities and to assist with applications for permits, licenses, and approvals.

The framework further contemplates coordination on investment incentives, concessions, or other benefits potentially available under Grenadian law, plus support on workforce, immigration, and specialized personnel planning. The MOU expressly notes that any governmental approval, incentive, or commitment remains subject to Grenadian law and action by the competent authority, and that the agreement does not represent that the Resort can bind the Government of Grenada or any governmental authority.

Local Employment and Skills Commitments

The MOU also addresses local employment and procurement, contemplating participation by qualified Grenadian businesses and professionals where commercially reasonable.

Workforce development would be linked to campus construction and operations, with the parties envisioning training, technology transfer, and collaboration with local institutions in AI, data center operations, renewable energy, and other advanced technologies.