Solaris Power Solutions Signs Equipment Rental Agreement with Hatchbo
In a regulatory filing on Thursday, Solaris Power Solutions, an indirect subsidiary of Solaris Energy Infrastructure, announced that it into a Master Equipment Rental Agreement with Hatchbo, LLC, a Delaware limited liability company, pursuant to which Lessor has agreed to provide over 500 megawatts of power generation equipment to support Customer's power demand for artificial intelligence computing needs at its data centers. The Agreement provides for an initial rental term that is scheduled to commence on January 1, 2027 and continue for ten years or until Lessor and Customer enter into a separate, mutually agreeable power purchase or other similar agreement, whichever occurs first. The Customer has the option to extend the Initial Rental Term for one additional five-year period. The Agreement may be terminated, in whole or in part, by the Customer for convenience upon 30 days' prior written notice, provided there is no ongoing default by the Customer. In the event of such termination, the Customer is required to pay a termination payment equal to 50% of the remaining rental fees related to the Equipment impacted by such termination through the end of the Rental Term.
