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Edisun Power to Acquire SmartEnergy Operations for Nearly $550 Million

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Edisun Power Europe said on Monday it has agreed to acquire the business operations of SmartEnergy Group AG in a transaction valued at just under 440 million Swiss francs ($548 million), as the Swiss solar power producer moves to consolidate the companies' operations.

The companies entered into a binding agreement on Aug. 23 following approval from Edisun Power shareholders at the company's annual general meeting on May 29.

Edisun Power noted that it had conducted the majority of its business operations through SmartEnergy for several years and that bringing the operations together is intended to support its long-term growth.

According to the company's statement, the transaction involves SmartEnergy granting Edisun Power a vendor loan equaling the purchase price of 440 million Swiss Francs.

Following the merger, Edisun Power plans to focus on renewable energy for data centers, synthetic aviation fuels and other power-to-X applications, which refers to storing excess renewable energy in the form chemical feedstocks.

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