Active Energy Group PLC (AIM:AEG, OTCQB:ATGVF) this week outlined progress on its digital infrastructure rollout in the UAE, which it said marked a shift from its previous position as a development-stage renewables company.
The company told investors that it had completed groundworks on its initial 8.00 megawatt (MW) phase and had entered the equipment installation stage. Commissioning is expected during the first half of 2026, with tenant operations expected to begin shortly after.
The company said it had applied to expand the site to 33.00MW and was in advanced negotiations for a further 60.00MW, aiming to reach 100.00MW in early 2026. It explained that funding would be sourced through a combination of project finance, infrastructure leasing agreements with tenants, and selective equity backing.
General manager Aleksandra Tsybulskaya joined the Proactive studio to tell us more.
Proactive: Aleksandra, very good to meet you. Construction started on the first 8MW in the UAE. What progress has been made on site and what's the expected timeline?
Aleksandra Tsybulskaya: Hello. Thank you for having me today. So, the groundworks have been completed and the site is now moving into the equipment installation phase. The power connection has already been approved by the Electrical Authority. We are planning to deliver everything from the initial phase on time. We expect the commissioning to take place during the first half of 2026, with the first tenants going live shortly thereafter.
Proactive: You have applied to expand the site to 33MW, and you plan to reach 100MW next year. How will you fund and deliver that growth?
Aleksandra Tsybulskaya: The pathway is clearly phased already. We have 8MW under construction, and 25MW under application. Negotiations are well advanced on a further 60MW, which is taking place right now. Funding is expected to be a combination of project finance, infrastructure leasing agreements with tenants, and selected equity support. All of that will come from value-accretive, selected investors. It's very important because at AEG, we retain ownership of the infrastructure and secure long-term rental revenues. This allows us to leverage the contracted cash flows to support further expansion.
Proactive: Aleksandra, ultra-low-cost energy is described as your unique selling point. How does this advantage translate into margins, return on investment, and long-term competitiveness?
Aleksandra Tsybulskaya: Accessing surplus energy in the UAE provides us with costs that are among the lowest globally. For tenants such as AI data operators and Bitcoin miners, energy represents the single largest cost input—around 60 to 70% of operational expenses. By providing energy at a fraction of global averages, we can offer very competitive hosting rates while maintaining attractive margins for the energy.
Proactive: With exposure to both AI hyperscalers and Bitcoin mining clients, how is AEG managing demand across these fast-moving sectors?
Aleksandra Tsybulskaya: We structured our model to be client-agnostic, with infrastructure that supports both AI training workloads and blockchain validation. This dual demand profile ensures high utilization across cycles and helps us remain competitive in the market. AI capacity is growing exponentially, as is crypto mining.
Proactive: Aleksandra, the announcement references a 300MW pipeline. How much visibility do you have on that pipeline? What are the key milestones investors should track?
Aleksandra Tsybulskaya: The 300MW pipeline is structured into clear de-risked stages. Phase one is 8MW, which is already under construction. Phase two will take us to 33MW, and the applications and approvals for that are already in process. Phase three moves us to 100MW in early 2026. We are currently negotiating sites for the additional 60MW. Beyond this, we have identified multiple additional locations to scale toward 300MW.
Proactive: What does this mean for shareholders in terms of value creation and long-term growth?
Aleksandra Tsybulskaya: For shareholders, the UAE rollout is transformational. AEG is shifting from a development-stage renewables player into an owner of mission-critical digital infrastructure with contracted, recurring revenues. The model provides scalability, defensibility, and exposure to two of the fastest-growing technology sectors globally. In the near term, each megawatt deployed enhances cash flow visibility. In the medium term, building toward 300MW positions AEG as a regional infrastructure leader.
Proactive: Aleksandra, I hope you'll continue to keep us updated with progress.