en.Wedoany.com Reported - EdgeMode, a global energy and AI data center infrastructure company, has signed an agreement to acquire a 51% stake in Spain-based Ibersun Generación, thereby gaining majority control of a utility-scale battery energy storage system (BESS) platform with a total installed capacity of approximately 1.9GW. The transaction is currently non-binding and has entered the due diligence phase, with a final agreement expected to be signed upon completion.
This acquisition comes as Spain accelerates energy storage investments to support a grid increasingly dominated by solar power. During peak afternoon hours, solar power accounts for a significant share of electricity generation, driving growing demand for storage systems capable of absorbing excess power and releasing it when needed. The joint venture aims to help address grid balancing challenges, reduce price volatility, and improve energy reliability by capturing excess solar generation during the day and supplying power when demand rises.
Through the transaction, EdgeMode immediately adds 52 MW of grid-connected BESS projects to its development portfolio, which are expected to reach "ready-to-build" (RTB) status by the end of 2026. In addition to the initial projects, the joint venture includes a development pipeline of approximately 1.9 GW, distributed across strategically located land parcels near substations. These parcels have been carefully selected to enhance grid access and prepare the platform for participation in future capacity auctions under Spain's regulatory framework. Once fully developed, the portfolio is expected to provide approximately 2,900 MWh of energy storage capacity, with the first projects expected to become operational within the next 18 months.
EdgeMode plans to fund the BESS platform through capital recycling, utilizing proceeds from specific monetization opportunities within its AI data center portfolio to support project development and equity requirements. The company stated that this strategy aims to create long-term recurring revenue streams while avoiding shareholder dilution, and that utility-scale energy storage projects can achieve faster capital recovery compared to traditional AI data center development.
EdgeMode CEO Charlie Faulkner stated that deploying battery energy storage systems is a critical structural need in Spain. As a leading location for utility-scale solar expansion in Europe, Spain's energy landscape faces unique pressures, making large-scale storage essential for developers, grid operators, and consumers. To accelerate grid resilience, the Spanish government has invested substantial financial incentives, providing government grants and subsidies for certified BESS projects. Faulkner noted that the joint venture is uniquely positioned to leverage these subsidy frameworks to substantially reduce construction costs and enhance capital returns for investors. He added that this majority stake acquisition represents a structural milestone for EdgeMode, combining 52 MW of near-term RTB projects with a 1.9 GW strategic land pipeline, establishing a highly valuable foothold in Europe's most important energy storage market. The BESS platform creates a robust and high-margin recurring revenue stream, providing long-term predictability for investors and delivering the critical grid balancing infrastructure needed to support Spain's digitalization and renewable energy transition.
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