Very grateful. Thank You

I doubt what you are seeing is a solenoid as that is a rather large relay.  If you are talking about a small cylindrical device that bolts onto a surface and has a single wire going to the ignition system, that is either an externally mounted ignition condenser or an ignition noise suppressor (so radios don't pick up ignition noise).  The additional condenser or noise suppressor is not needed with the electronic ignition.  Just disconnect the wire and tape it up so it cannot touch anything.

Thanks for the info. Can you tell me one more thing, I have a condensor/solenoid running off negative side of my coil, is this still needed?

Red to coil (+) 
Black to coil (-)

Coil (+) should have a white wire coming from the ignition switch.
Coil (-) should have a white/black wire going to the distributor.
Remove the white/black wire, leave the white wire.

looking to switch my 1979 998cc to electronic ignition, how does it get wired up? Black wire and red wire go to? Thanks