04:27 PM EST, 02/04/2025 (MT Newswires) -- Kiwetinohk Energy ( KWTEF ) , after trade Tuesday said it completed the sale of its proposed 101-megawatt Opal natural-gas fired power project to Bitdeer Technologies Group ( BTDR ) for $21 million.

The Opal project, located near Fox Creek, Alberta, is fully permitted, licensed, and is currently in stage 5 of the Alberta Electric System Operator's review process, the company said.

Bitdeer ( BTDR ), a technology company based in Singapore, will acquire all assets, contracts, leases, and permits related to the project, according to the statement.

Kiwetinohk plans to use the proceeds from the sale to reduce its debt, the company added.

The company's shares closed up $0.02 to $16.99 on the Toronto Stock Exchange.