Edisun Power wants to enable artificial intelligence (AI) with renewable energy
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Edisun Power Europe AG / Key word(s): Strategic Company Decision Ad hoc announcement pursuant to Art. 53 LR Zurich, December 23, 2024
Edisun Power wants to enable artificial intelligence (AI) with renewable energy
Satisfying AI's energy hunger The Board of Directors of Edisun Power has decided to focus the large-scale 941 MWp “Fuencarral” plant in the greater Madrid area on the additional supply of solar power to data centers. In doing so, Edisun intends to benefit from the additional demand for electricity resulting from the use of AI applications and from the increasingly stringent regulations in Europe for the low-emission operation of data centers (European Energy Efficiency Directive EED).
Transactions with put option and search for investors The large-scale plant “Fuencarral”, consisting of three projects, dispose of the very important grid access, granted connection rights, environmental permit (DIA), administrative permit (AAP) and the official construction permit (AAC). Edisun is now acquiring additional Special Purpose Vehicles from Smartenergy to enable the “Renewable Energy for Artificial Intelligence” alignment (including securing the grid connection for additional energy purchase, in addition to the already approved feed-in grid connection). In return, Edisun is selling its Italian project portfolio of around 159 MWp to Smartenergy. At the same time, Edisun has launched a process to attract infrastructure funds, private equity and/or owners and operators of data centers to invest in the large-scale plant. Discussions are underway with a consortium of banks to finance the construction of the project. In the interests of Edisun shareholders, Smartenergy has agreed to buy back the large-scale “Fuencarral” plant if it cannot be financed in order to indemnify Edisun. Edisun will publish the annual report with detailed information on these transactions on March 28, 2025.
For more information Dr. René Cotting, +41 44 266 61 20, info@edisunpower.com
Edisun Power Gruppe As a listed Eureopean solar power producer, the Edisun Power Group finances and operates solar power plants in various European countries, Edisun Power started its operations in this field early as 1997 and has been listed on the Swiss Stock Exchange since September 2008. Edisun Power has broad experience in the realization and purchase of both national and international projects, thanks in part to its strategic partnership with the Smartenergy Group. Currently, the company owns 36 solar power plants in Switzerland, Germany, Spain, France, Italy and Portugal. With a secured portfolio of projects under development of approx. 1.2 GW, the company is equipped for significant growth.
End of Inside Information |
| Language: | English |
| Company: | Edisun Power Europe AG |
| Limmatquai 4 | |
| 8001 Zürich | |
| Switzerland | |
| Phone: | +41 44 266 61 20 |
| Fax: | +41 44 266 61 22 |
| E-mail: | info@edisunpower.com |
| Internet: | www.edisunpower.com |
| ISIN: | CH0024736404 |
| Valor: | 2473640 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 2056257 |
| End of Announcement | EQS News Service |
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2056257 23-Dec-2024 CET/CEST
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