Announcement: SUNOTEC Acquires Minority Stake in Adex Energy

SUNOTEC is proud to announce a strategic partnership with Adex Energy, marking a significant milestone in our commitment to driving innovation and excellence in renewable energy solutions. As of August 2024, SUNOTEC has acquired a 15.9% stake in Adex Energy, with plans to increase it’s investment to 40% by mid-2025.

This collaboration embodies our shared vision of advancing energy management solutions that are both innovative and efficient. Adex Energy, established in 2020, as a spin-off of the software company Division, specialises in cutting-edge software products for the energy sector. Their portfolio includes:

Adex Sales: A billing system that automates invoicing for electricity traders, ensuring compliance with local administrative requirements.

• Adex Cast: A portfolio management system integrating AI-driven forecasting, trading operations, and strategic analysis to optimize energy management.
• ADEX IoT: A comprehensive IoT platform providing real-time insights and control over energy
• resources.
• ADEX Trade: An energy market advisory solution offering simplified access to up-to-date market data and analytics.

“By combining SUNOTEC's expertise in solar park construction and management with Adex Energy's advanced software solutions, we aim to create seamless, automated systems for managing hybrid energy setups. This includes integrating solar, wind, and battery storage systems to maximize efficiency and economic returns,” says SUNOTEC Head of Strategy Alexander Zahariev, and continues: “By 2025, SUNOTEC and Adex aim to establish a robust presence in Bulgaria and expand into Europe’s renewable energy technology and software market. Together, we will deliver comprehensive energy management systems to drive the energy transition forward.”

The partnership's immediate focus includes launching a pilot project at SUNOTEC's recently opened photovoltaic park in Pernik. This test initiative, featuring a 26 MWp solar system and a 61 MWh energy storage system, will utilise Adex Energy’s innovative hardware and software to collect and analyse data in real time. This collaboration underscores the companies’ jointmission to deliver comprehensive and flexible energy management systems that address the evolving demands of the renewable energy market.

Petar Nenov, Founder and CEO of Adex Energy, says: “Administrative requirements in the energy market have highlighted the need for comprehensive solutions that cover all aspects of market participation: from administrative compliance and data processing, such as market data, grid operator data, meteorological data, etc., to forecasting and efficient energy resource management. Adex’s solutions ensure maximum benefits for energy producers, traders, and balancing groups.

SUNOTEC and Adex Energy have currently focused their joint efforts on the efficient management of batteries and storage facilities. Adex’s solution is based on collecting big data from numerous sources to develop smart tools that analyse and provide strategy-based calculations. Its innovation lies in developing various strategies and figuring out how to apply those in the power plants to inform decisions such as when the plant operates, when it supplies energy to the battery, and when the battery supplies energy to the network.

Through this strategic investment, SUNOTEC reaffirms its commitment to offering forward-thinking solutions that facilitate the global energy transition and create long-term value for theirclients.

About SUNOTEC

SUNOTEC is an integrated solution provider, offering turnkey solar solutions tailored to our customers' unique requirements. Its service and product portfolio, large in-house workforce and investment capabilities enable it to be at the forefront of the development, construction and maintenance of large-scale utility solar PV plants in Europe and Africa. Based in Sofia (Bulgaria) and Munich (Germany), the company currently employs over 2,000 people. With more than 600 solar power plants and close to 10 GWp capacity built, SUNOTEC is committed to resource efficiency and business reliability for all of its partners.

For more information, go to sunotec-group.com or follow it on social #SUNOTEC @sunotecgroup.

The transaction in the media:

Capital.bg (in Bulgarian): https://www.capital.bg/biznes/energetika/2024/11/15/4702682_nai-golemiiat_stroitel_na_solarni_parkove_sunoteh/

For further details, please contact:

Elitsa Videnova| Executive Director

SUNOTEC Foundation

Head of PR | SUNOTEC

E | e.videnova@sunotec-group.com

T | +359 89 887 8879