Marwynn Holdings signs non‑binding MOU for proposed US$500M Grenada campus

A proposed solar-powered AI campus in Grenada has a US$500 million planning estimate, but investment remains subject to feasibility, financing and definitive agreements. Marwynn Holdings, Inc. NASDAQMWYN, a diversified holding company spanning supply chain and technology businesses, announced the non-binding memorandum of understanding on Oct. 28.

The agreement with Grenada National Resort gives its wholly owned NexaCore Technologies, Inc. subsidiary a site and land partner to evaluate. Marwynn says the estimate covers both solar and computing infrastructure, with no predetermined division between them. Actual investment could be materially smaller or different.

Shares traded higher at US$2.70 on Nasdaq at 11:55 a.m. EDT on Oct. 28, according to NASDAQMWYN.

NexaCore would lead development, technology implementation and daily execution under Marwynn's oversight. Its immediate task is feasibility work: final capacity, site configuration and commercial structure remain to be determined, while the MOU provides a 24-month term with termination rights.

The Estimate Covers Two Infrastructure Components

Marwynn formed NexaCore in April 2026 to develop AI computing infrastructure and technical services. The Grenada proposal would pair solar generation and battery storage with GPU-based computing capacity, potentially serving regional and international customers.

The solar plant is intended to supply the data centre, with surplus electricity sold where commercially viable. Battery storage and energy-management systems would balance solar output against computing demand, while substations and interconnection infrastructure would require coordination with local utilities and their approval.

The proposed computing business includes AI training and inference, hosting, cloud services and data storage. Equipment sourcing remains subject to commercial availability, financing, customer requirements and definitive technology arrangements, rather than an announced GPU purchase.

The company also preserves flexibility to structure and operate the energy and computing components separately. Its Oct. 28 estimate therefore does not establish either a solar construction budget or a data-centre equipment allocation.

"The MOU gives us 24 months of exclusivity to test that model through land, grid, and connectivity studies before we commit capital," Marwynn chief executive Yin Yan said in the release.

Yan said the company intends to develop the campus in phases, sizing each according to feasibility studies and financing support. That approach leaves the amount and timing of construction dependent on work that NexaCore now plans to begin.

Land Terms And Government Approvals Remain Open

Grenada National Resort is described in Marwynn's announcement as a government-supported tourism and investment project. It intends to make land available and help coordinate with Grenadian authorities, utilities and regulators; the announcement does not represent that the resort can bind the government.

The possible land arrangements include a contribution, grant, lease or licence. Legal, technical and valuation due diligence would determine the form and value, along with any ownership or economic interest the resort receives.

No value is assigned to the land under the MOU. Marwynn also says the land contribution is not a sovereign or governmental guarantee of its obligations, while approvals and incentives remain subject to Grenadian law and the competent authority.

Marwynn is the contracting party and, through NexaCore, retains responsibility for financing, capital allocation, partners, customers and suppliers, subject to law and definitive agreements. It may use subsidiaries, special-purpose vehicles or joint ventures and bring in investors and lenders.

During the MOU term, the resort cannot negotiate similar infrastructure projects on or in connection with the resort without Marwynn's consent. Either party can terminate on 30 days' written notice, and Marwynn can exit immediately if it determines the project is commercially or technically infeasible. These terms are the company's account; the underlying MOU was not reviewed.

Operating Capacity Provides A Different Benchmark

The proposal arrives alongside earlier coverage of capacity brought online in Denmark. CoreWeave, Inc. NASDAQCRWV, an AI cloud provider, said on Oct. 27 that most of its planned 22.5 megawatts of Danish IT capacity was online.

That is an operating-capacity disclosure, whereas Marwynn says final capacity will follow technical and feasibility studies. The Grenada planning estimate cannot yet be translated into a comparable amount of computing power.

Read more: CoreWeave brings most of planned 22.5 MW online in Denmark

Marwynn's Oct. 28 announcement places land, grid and connectivity studies within a 24-month MOU term. The next-steps text reviewed supplies no completion date for those evaluations, leaving feasibility results, financing and definitive agreements as the next tests of whether the proposed campus proceeds.