Foresight signs term sheet for 50.01% of Polish data center developer

Foresight Autonomous Holdings signed a non-binding term sheet to acquire 50.01% of an unnamed Polish data center developer. The purchase price is subject to an independent valuation, Data Center Dynamics reported on Oct. 23.

The term sheet provides a convertible loan facility of up to $3.5 million to settle outstanding obligations. It also targets a 66.67% interest in two other companies developing data centers in Warsaw, central Poland and Wrocław, the report said. The projects have a combined power capacity of up to 270MW, with the Warsaw facility planned at 130MW, w.media reported.

For an allocator, the entry price is undetermined: the only capital figure disclosed is a $3.5 million convertible loan facility, against a pipeline planned at up to 270MW. The independent valuation, once complete, sets Foresight's entry basis and the benchmark for anyone buying in alongside or after it.

Warsaw's grid connection application is expected to be approved by the end of 2027, w.media reported. The Warsaw project would be built on a secured 32,000 sqm plot with an option on a further 22,000 sqm. The Wrocław site, on a 10,000 sqm plot, is still subject to land negotiations.

Foresight is based in Ness Ziona, Israel, and supplies 3D perception systems for automotive, agricultural and drone applications. Cumulative Polish data center investment could reach as much as PLN 292.90 billion ($75.3 billion) between 2027 and 2036, an analysis by xyz.pl of a PwC report predicted.