Supporting renewable energy in Romania and Moldova

CITEȘTE ÎN ROMÂNí

EBRD becomes a minority shareholder of Premier Energy PLC in an initial public offering

The bank buys 11 percent. offers, which gives 3.2 percent. company ownership

The IPO continues to invest in renewable energy generation in Romania and Moldova

The European Bank for Reconstruction and Development is acquiring an equity stake in Premier Energy PLC, one of the fastest growing vertically integrated energy infrastructure companies in Southern and Eastern Europe, to support investment in renewable energy capacity in Romania and Moldova.

The EBRD bought 11 percent of the shares offered in the initial public offering (IPO) of Premier Energy, a company registered in Cyprus, after an investment of RON 77 million (EUR 15.5 million). The shares will be listed on the Bucharest Stock Exchange. The EBRD investment is expected to represent just over three percent of the company’s post-IPO value.

The transaction supports the ecological goals of Romania and the EBRD.

The proceeds from the EBRD’s participation in the IPO will be used to build new renewable energy capacity, primarily in Romania, and it is estimated that the implementation of the project will lead to a reduction in carbon dioxide emissions by over 168,000 tons per year.

The EBRD, a leader in climate finance, is committed to supporting Romania and the company in its green energy transition.

The EBRD’s participation was important to the success of the IPO because it anchored the issue and attracted other investors. EBRD will support the client in taking climate action, transitioning to a low-carbon economy and making improvements in corporate governance. The Prime Minister will also improve his standards for promoting gender equality.

Grzegorz Zieliński, Director of Energy Europe at the EBRD, said: “We are excited to work with Premier Energy and support its development journey in renewable energy sources. Premier Energy’s green energy transition strategy aligns perfectly with the EBRD’s priorities in the region.”

Tamas Nagy, co-managing director of private equity funds at EBRD, said: “EBRD is proud to expand its cooperation with Premier Energy by becoming a shareholder. In the lead-up to the IPO, we successfully partnered with Premier Energy to further strengthen its ESG and climate practices and set ambitious goals. We look forward to supporting the company in becoming a key regional player in green energy.”

Jose Garza, CEO of Premier Energy, added: “We are pleased to welcome the EBRD as a shareholder of Premier Energy. This investment further strengthens our long-standing cooperation and underlines the importance of our shared commitment to renewable energy and sustainable development in both Moldova and Romania. Thanks to the EBRD’s investment, we are well-positioned to increase our renewable energy production capacity and significantly reduce greenhouse gas emissions. This partnership reflects our commitment to achieving long-term growth and making a positive impact on the environment.

Petr Stohr, Chief Financial Officer of Premier Energy, said: “The EBRD’s participation in our IPO was important to its success and we thank them for their trust. Their investment and support will enable us to accelerate our renewable energy projects across our vertically integrated platform, which includes market-leading renewable energy forecasting, balancing and dispatching capabilities, and to serve approximately 2.4 million customers in both Moldova and Romania , contributing significantly to a sustainable energy future and reducing the region’s carbon footprint. We believe that strong partnerships are essential to business development and we are proud to have the EBRD on our side to help us achieve our strategic goals.”

The EBRD has so far invested almost EUR 11 billion in 525 projects in Romania and over EUR 2.3 billion in 173 projects in Moldova.