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27.12.2023 23:15:52 - Edisun Power Europe AG: Edisun Power focuses on large-scale Solar plants
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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.
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.
Universitätstrasse 51
8006 Zürich
Switzerland
End of Announcement EQS News Service
===
1804533 27-Dec-2023 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1804533&application_name=news
END) Dow Jones Newswires
December 27, 2023 17:15 ET (22:15 GMT)
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.
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.
End of Inside Information 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
===
1804533 27-Dec-2023 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1804533&application_name=news
END) Dow Jones Newswires
December 27, 2023 17:15 ET (22:15 GMT)
