LISBON, Portugal – 25 February 2026 – Start Campus and EDP today announced the signing of a strategic partnership marking their shared intention to accelerate next-generation, renewable-powered data center projects in Portugal, with potential expansion to other markets. Under the terms of the Memorandum of Understanding (MoU) signed by the two companies, Start Campus, a leading data center developer in Portugal, and EDP, a global leader in the energy sector, will combine their complementary capabilities to accelerate the delivery of competitive, sustainable computational capacity aligned with Europe’s digital and decarbonization ambitions.

The agreement is structured around three core pillars: accelerating renewable energy development to support the growing digital demand while enhancing grid resilience and long-term system stability; establishing EDP as Start Campus’ preferred long-term partner for green energy solutions; and exploring synergies and angles of cooperation in Sines and in future data centre developments across Portugal and potentially other markets.

The partnership framework brings together two leading companies and is designed to align new development and investment in the energy and digital sectors across Portugal, initially anchored at the SINES Data Campus, reinforcing the country’s position at the forefront of Europe’s green digital and energy transition.

“Electricity demand from data centres is rising rapidly — in Europe alone, we expect around 70 TWh of additional consumption by 2030. EDP is ready to support the development of digital infrastructure that can scale reliably and sustainably, leveraging on our strong capabilities in renewable electricity and energy management”, said Ana Quelhas, Head of Hydrogen and Data Centres Business Unit at EDP. “EDP’s background and track record in clean energy development, combined with Start Campus’ expertise in developing world-class data centres, form a robust foundation to deliver renewable-powered digital infrastructure at scale, in Portugal.”

“This partnership framework reflects a shared conviction that digital infrastructure and renewable energy must be developed together, at scale and with long-term system resilience in mind,” said Robert Dunn, CEO of Start Campus. “By aligning Start Campus’ platform vision with EDP’s energy leadership and global experience supporting hyperscale digital infrastructure, we are laying the foundations for an integrated approach to digital growth — starting in Sines and extending across the country — that supports customers, strengthens the energy system and delivers sustainable economic value.”

“Davidson Kempner is pleased to support this strategic alignment as part of our long-term commitment to building resilient digital infrastructure platforms,” said Daniel Boehm, Partner and Co-Head of the European Corporates Team at Davidson Kempner. “The framework between Start Campus and EDP reflects the type of forward-looking collaboration required to enable scalable, energy-aligned digital infrastructure, underpinned by sustainability and long-term investment discipline.”

Renewable energy is central to Portugal’s power system, already supplying around 68 percent of electricity consumption in 2025 and reinforcing the country’s position as a strong base for sustainable digital infrastructure in Europe.

Under the MoU, the parties will advance technical, commercial and strategic discussions to accelerate competitive renewable solutions that support growing digital demand, enhance grid resilience, ensure long-term price stability and reduce reliance on cross-border imports. By combining EDP’s renewables expertise with Start Campus’ data centre platform, complemented by Davidson Kempner’s capital, the partnership aims to enable the efficient development of next-generation digital infrastructure across the region and contribute to the adoption of renewable electricity.

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About Start Campus

Start Campus is building andoperating the SINES Data Campus, a 1.2 GW data center in Portugal, creating oneof Europe’s largest and most sustainable data ecosystems with market-leadingglobal connectivity. SINES DC provides maximum optionality for customers withpowered shell, turn-key and build-to-suit solutions. The company’s advancedplatform is AI-ready and addresses the future needs of the industry byintegrating liquid cooling technologies into its flexible and scalable design.With a total combined investment value of an estimated €8.5bn, the campusutilises 100% renewable energy and targets an industry-leading PUE (Power UsageEffectiveness) of 1.1 and a WUE (Water Usage Effectiveness) of 0 by harnessingthe cooling power of the ocean.

For more information, please visit www.startcampus.pt

About EDP

EDP is a global energy company and a leaderin the energy transition, with a strong presence in renewable energygeneration, energy management, and infrastructure development. With operationsacross Europe, North America, South America, and Asia-Pacific, EDP is committedto accelerating decarbonization while enabling the sustainable growth ofdigital and industrial ecosystems.

For more information, please visit: www.edp.pt

About Davidson Kempner Capital Management

Davidson Kempner Capital Management LP is aglobal investment management firm with over 40 years of experience and a focuson fundamental investing with a multi-strategy approach. Davidson Kempner hasmore than $37 billion in assets under management and around 500 employeesacross eight offices: New York, Philadelphia, London, Dublin, Hong Kong,Shenzhen, Mumbai and Abu Dhabi.

For more information, please visit: https://www.davidsonkempner.com/