Azure Energy Prepares 1,500 MW Mississippi Power Project for Market
Key Highlights
- ➤1,500 MW Mississippi project combines 500 MW biomass and 1,000 MW natural gas generation
- ➤Project value up to $1.66 billion upon sale after final permitting
- ➤Azure holds 10% equity stake, potentially yielding approximately $166 million gross proceeds
- ➤Azure expects approximately $5 million 2027 fee income under current engagement
- ➤Full operation could generate approximately $40 million annual EBITDA for Azure
Expert Statements
Andrew Thompson, CEO of Algorhythm Holdings
“Our Mississippi project is large in scale and in the final stage of preparation for market.”
Andrew Thompson, CEO of Algorhythm Holdings
“Potential capital markets partners have responded well, and we are now deciding how best to launch a comprehensive marketing process.”
Andrew Thompson, CEO of Algorhythm Holdings
“Shovel-ready sites with power and water already solved are increasingly scarce.”
Andrew Thompson, CEO of Algorhythm Holdings
“This site offers a 1,500 MW power solution using biomass and renewable natural gas, with engineering nearly complete and water supply addressed.”
Andrew Thompson, CEO of Algorhythm Holdings
“We expect strong interest from data center and advanced manufacturing tenants in the coming months.”
A 1,500 MW Combined Renewable Natural Gas and Biomass Power Plant and Water Supply Project Valued at Up to $1.66 Billion; Azure Holds a 10% Equity Stake
Fort Lauderdale, FL, Oct. 23, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (the “Company”) (NASDAQ: RIME), a diversified holding company and owner of Azure Energy (“Azure”), a strategic advisor to renewable power plant developers, and SemiCab Holdings, an AI-enabled logistics provider, today provided an operational update on a 1,500 MW combined renewable natural gas and biomass power plant project in Mississippi. 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.
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