Edisun Power Europe AG: Edisun Power focuses on large-scale Solar plants

Edisun Power Europe AG / Key word(s): Strategic Company Decision
Edisun Power Europe AG: Edisun Power focuses on large-scale Solar plants

27-Dec-2023 / 23:15 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

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Ad hoc announcement pursuant to Art. 53 LR

Zurich, December 27, 2023

Edisun Power focuses on large-scale Solar plants

* Strategy will strongly be focused on large-scale solar plants

  * Edisun acquires 941 MWp of large-scale solar plants, which will be ready
    for construction in 2024

  * Edisun reduces remaining project portfolio of smaller plants by 706 MWp
    and realizes one-off capital gain of 18.7 MCHF

* Transactions thanks to strategic partnership with SMARTENERGY Group AG

Focus on large-scale solar plants

The Board of Directors of Edisun Power today unanimously approved the
reallocation of a significant part of its solar projects for the strategic
development of its solar PV portfolio.

The agreements reached with strategic partner SMARTENERGY Group AG cover the
sale of projects with a volume of 706 MWp and, in return, the purchase of
three large-scale solar plants in the Madrid area with 941 MWp. These
large-scale plants will be ready for construction by end of 2024.

The transactions covered by the agreements can be financed entirely without
cash outflows against offsetting the interest-free loan granted by
SMARTENERGY Group AG to Edisun in 2021. Edisun will thus simultaneously
strengthen its balance sheet structure and substantially reduce its debt by
over CHF 50 million. In addition, Edisun will generate a one-off gain of
MCHF 18.7 from the project sales, which will be recognized in 2023.

For 2024/25, Edisun is planning to further optimize its portfolio by selling
smaller solar plants. This restructuring should be completed by mid 2025.

Increased attractiveness for large financing rounds

The aim of the entire transaction is to align Edisun's portfolio more
closely with the needs of the capital market and strategic investors. The
Spanish PV market is currently developing dynamically, as the Iberian
Peninsula is also considered as one of the hotspots in Europe for the
establishment of green hydrogen production projects. At the same time, due
to the grid bottlenecks, large-scale solar plants that already have a grid
connection commitment are particularly attractive. The three large-scale
solar plants with a total capacity of 941 MWp are strategically located in
the greater Madrid area.

For 2024 and 2025, the Board of Directors is planning a gradual, substantial
increase in equity and the issue of green bonds to finance the construction
of the large-scale plants. It is also evaluating the possibility of
equipping these large-scale solar plants with an energy storage system to
benefit from the volatility of electricity prices thanks to arbitrage sales.

Further details will follow with the publication of the 2023 Annual Report
on March 28, 2024 and the invitation to the next Annual General Meeting.

For further information

Dr. René Cotting, info@edisunpower.com

Edisun Power Group

As a listed European solar power producer, the Edisun Power Group finances
and operates solar power plants in various European countries. Edisun Power
began its involvement in this field back in 1997 and has been listed on the
Swiss stock exchange since September 2008. Edisun Power has extensive
experience in the realization and acquisition of both national and
international projects. The company currently owns 36 solar power plants in
Switzerland, Germany, Spain, France, Italy and Portugal. With the newly
secured portfolio of projects under development of around 1.1 GW, the
company is well equipped for significant growth.


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End of Inside Information

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   Language:       English
   Company:        Edisun Power Europe AG
                   Universitätstrasse 51
                   8006 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:    1804533

End of Announcement EQS News Service
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1804533 27-Dec-2023 CET/CEST