Risen Energy Co. Ltd. plans to develop up to 300 MW of solar capacity in Spain, under an engineering, procurement and construction contract for cryptocurrency miner Cryptosolartech.

The 45-MW first phase of the project will be constructed in the province of Seville that will power farms, according to an Oct. 4 report by PV-Tech.

Funding for the solar projects will be secured against the launch and sale of cryptocurrency tokens from Cryptosolartech's farms and based on a 15-year power purchase agreement.