Premier Energy Group announces the successful completion of the acquisition of the operational Mihai Viteazu wind farm (80 MW), facilitated by a syndicated loan in the amount of 61 million euros granted by Vista Bank and Optima Bank, the largest contracted by the company so far.
The transaction, which marks one of the largest acquisitions in the company’s history, worth almost 88 million euros, was approved by the Competition Council and the Commission for the Examination of Foreign Direct Investments.
Mihai Viteazu wind farm has an estimated annual net production of 165 GWh. We remind you that in April this year, Premier Energy PLC concluded the contract by which it fully acquired from Iberdrola, Eolica Dobrogea One, the entity that operates the “Mihai Viteazu” wind farm (Constanța county).
“The closing of this transaction represents a landmark moment in the development of our group and we thank our partners who facilitated it. The support of Vista Bank and Optima Bank was essential for this new step. The acquisition becomes one of our largest and significantly enhances the renewable energy assets we own. We remain committed to the goal of becoming an energy hub in the region, impacting the renewable energy sector and maximizing our shareholders’ investment in the medium and long term,” said Jose Garza, CEO of Premier Energy Group.
It is a strategic acquisition designed to strengthen Premier Energy’s commitment to green energy production, as the Group doubles its operational footprint in the wind renewable assets it holds in the portfolio.
From the moment of the transaction, the park entered the management of Alive Capital, a company majority owned by Premier Energy. Alive Capital thus ensures operational continuity and underlines Premier Energy’s commitment to maintaining the highest efficiency and performance standards of its new wind project.
The EUR 61 million loan granted by Vista Bank as Mandated Lead Arranger and Lender, also as Facility and Security Agent and Account Bank, played a key role in financing this strategic acquisition.
“We are delighted to have a partner like Vista Bank helping us close one of the largest acquisitions to date for our group. We believe that achieving our growth goals must be achieved with trusted partners. We are proud to contribute to the transition to green energy and to be one step closer to our goal of owning and operating 1.4 – 1.5 GW of installed capacity in the coming years. At the same time, the acquisition marks an important step in our mission to provide, in a profitable way, sustainable and reliable energy solutions in the region,” added Petr Stohr, CFO of Premier Energy Group.
Premier Energy Group, a key player in the South-East European energy market, was listed successfully on the Bucharest Stock Exchange (BVB) on 28 May 2024. It was the largest initial public offering (IPO) of an entrepreneurial company in recent seven years and the fifth largest listing since the BSE was established. The group attracted a capital of almost 140 million euros, which raised its valuation to 2.4 billion RON (489.8 million euros). With a vast portfolio of assets in Romania and the Republic of Moldova, Premier Energy’s listing on the BSE gives it the resources to accelerate its investment plans in the region.
With one of the fastest growing in the region of Southeast Europe, the Premier Energy group is represented by three business verticals – supply and distribution of natural gas, production, supply and distribution of electricity and production of energy from renewable sources (wind and solar). We remind you that Premier Energy PLC is a holding company, which in turn controls other companies active both in Romania and outside Romania – the Republic of Moldova, Hungary and Serbia.
In Romania and the Republic of Moldova, Premier Energy owns green/renewable energy projects with a capacity of more than 1,000 MW, projects that are owned, managed or under development, and which are equally divided between wind projects and photovoltaics.
In the medium and long term, Premier Energy’s strategy is to expand through new acquisitions and the development of new projects, especially in the field of renewable energy, in line with the company’s commitment to be directly involved in combating climate change.