Magellan Copper & Gold Corp. has advanced its recently launched power sector strategy, with its wholly owned subsidiary Magellan Energy Corp. entering into a letter of intent to acquire Ramm Power Group.

Upon closing of the acquisition, the combined companies will pursue brownfield development opportunities in the energy production and storage markets.

Magellan formed the wholly owned subsidiary on August 13, 2026, to target opportunities in energy production and storage, initially launching the vehicle without an announced acquisition target. The newly agreed letter of intent shifts that strategy into a concrete transaction aimed at Ramm Power Group, which was established in 2018 to develop pumped storage facilities. These facilities are designed to provide storage solutions for solar, wind, and nuclear power, alongside traditional power generation sources.

The corporate expansion comes as the demand for energy accelerates, driven by the substantial power consumption of data centers associated with the growth of artificial intelligence.

“Ramm Power Group has done extensive work to advance several projects and is in a good position to move them to the next level.”

“Magellan is committed to helping these projects become a reality.”

— Mike Lavigne, CEO

The transaction remains subject to the closing of the acquisition, with Magellan announcing it will provide additional details regarding Magellan Energy Corp. and the Ramm Power Group portfolio in the coming months.

Read the full announcement: Magellan Copper and Gold Corp Subsidiary Magellan Energy Corp Enters into Letter of Intent to Acquire Ramm Power Group