Active Energy Group PLC (AIM:AEG, OTCQB:ATGVF) has sold more than a third of the capacity at its first United Arab Emirates project before construction has even started, in what the company called a key commercial milestone.
The London-listed renewable energy and digital infrastructure company said that about 35% of the initial 8 megawatt site had already been pre-sold, with strong demand from clients in artificial intelligence data hosting and blockchain computing.
The facility is expected to generate around $3.5 million in annual revenue, with a gross margin of about 50%, translating to $1.75 million in gross profit.
Active Energy said the profits will be reinvested into further expansion, creating what it described as a self-funding model to finance future phases.
Paul Elliott, chief executive, called it a "pivotal moment". He said: “Pre-selling 35% of our first site before construction has even commenced provides clear validation of the market demand and our competitive advantage.
"With $3.5 million of annual revenues expected from this first 8 megawatt site and around $1.75 million in gross profits to be rolled directly into further expansion, we are creating a powerful self-funding cycle to scale rapidly across our 300 megawatt UAE pipeline.”
Construction of the first phase is due to begin shortly, with operations targeted to start before the end of the year. The company expects to fully contract the site before 2026, and said it aims to scale to 100 megawatts of capacity within the next 12 months.
AEG plans to expand to more than 300 megawatts in the UAE, with a longer-term goal of reaching one gigawatt of global capacity.
The company said the UAE’s combination of low-cost power, favourable regulation and strong connectivity made it an ideal base for energy-intensive computing sectors.
The group added that the integration of solar and hybrid renewable power into its projects supports both client and shareholder environmental goals, reinforcing its focus on sustainable growth.