EdgeMode acquires Ibersun Generacion majority

EdgeMode, a global energy and AI data center infrastructure company, has executed an agreement to acquire 51% of the share capital of Ibersun Generacion, S.L., forming a joint venture to launch a large-scale Battery Energy Storage System (BESS) platform in Spain. This non-binding agreement is subject to due diligence. The initiative aims to address Spain's critical energy needs by balancing its heavy reliance on solar power, capturing excess daytime generation to eliminate outages, manage price spikes, and limit consumer bills. The Spanish government supports this with financial incentives. The acquisition incorporates 52 MW of grid-connected BESS projects into EdgeMode's near-term pipeline, with an additional 1.9 GW pipeline of strategically secured land plots. The total consolidated portfolio is estimated to yield approximately 2,900 MWh of storage capacity, with the first projects operational within 18 months. EdgeMode plans to use a capital recycling model, reinvesting capital from its AI Data Center portfolio to fund the BESS platform, expecting an 80% annual recurring EBITDA margin and a 6-year return on capital for BESS projects.