New York based private equity firm, Brookstone Partners, is set to build a 900 megawatt (MW) wind farm in Morocco’s disputed Dakhla region currently under the administration of the North African country.
The private equity farm acquired the site for the wind farm from a company called Altus AG. Brookstone Partners plans to finance the first phase of the project, a 36 MW of wind energy, from a $100 million Initial Coin Offering (ICO) it intends to launch soon. The initial fund raising drive is a tiny amount compared to the project’s $3 billion price tag.
According to reports, Brookstone intends to power its cryptocurrency mining and data center operations with the energy it is going to generate from the wind farm.
Dakhla is a disputed area in the Western Sahara region that is currently being administered by Morocco.
Two years ago, German based Siemens Wind Power and Italy’s Enel Green Power came under lots of criticism from supporters of Western Sahara’s right to self rule as a result of the multi-million euro deals the two companies had in the area.
At the time, Siemens said the projects were not “in violation of applicable law.” It said that its decision to supply the wind turbines for the projects “was in no way associated with a judgment of the legal situation of the region.”
Siemens further said then that it “supports the stated position of the German government which has expressed its hopes for a peaceful and consensual resolution to the outstanding issues in Western Sahara, and its support for the United Nations plan for the self-determination of the (indigenous) Saharawi people”.
As we went to press, no word has been said yet by Brookstone Partners regarding the legitimacy of locating its wind farm in the disputed region.