Premier Energy, one of the most important suppliers and distributors of natural gas in Romania, announces the completion of the acquisition of CEZ Vânzare, as a result of which the regional customer portfolio of the entire Premier Energy group rises to 2.4 million domestic and non-domestic customers. With one of the fastest growing in the region of Central and South Eastern 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). With the completion of the acquisition, CEZ Vânzare receives a new identity and becomes Premier Energy Furnizare, according to a release.
Premier Energy acquired CEZ Sale at the end of 2023 from the Australian investment fund Macquarie Asset Management, marking the most important transaction of the year between entities active on the energy market in Romania.
The completion of the transaction represents a landmark moment for Premier Energy group’s local and regional development strategy, a step that brings the group closer to its announced major objective of becoming a regional energy platform. Since the end of 2022, Premier Energy has also become a major player in the renewable energy sector through acquisitions. Thus, the group is preparing its transition to renewable energy, the target set for Romania being between 1.4 GW and 1.6 GW in the next three years.
“I want to thank everyone for their involvement to successfully complete this transaction. We are moving forward with a solid team. After ten years of experience in distribution and supply in the natural gas market, Premier Energy has risen to the top of the players in the local profile market and is step by step creating its premises to become a market leader. We are the player with one of the fastest growth in the last ten years in the Central and South Eastern Europe region. Through strategic acquisitions, such as that of CEZ Vânzare, we strengthen our group synergies around the three business verticals,” said Jose Garza, CEO of Premier Energy Group.
CEZ Vânzare’s strategy remains focused on the supply of electricity and natural gas and on the needs of our customers. The transaction and change of ownership have no impact on the contractual provisions between the company and its customers, employees, suppliers or partners.
“I’m glad that I joined an equally ambitious family with plans for regional development. CEZ Vânzare’s experience of almost two decades on the local market, doubled by the innovation and desire for growth of those at Premier Energy, take us all to a new stage of development. We will continue to be the same reliable partner of the community in which we operate, with standards subordinated to a strategy focused on the needs of our customers who have been with us for years and for this we are grateful,” added Cornelia Szabo, CEZ CEO Sale, new Premier Energy Supply.
Established in 2007, Premier Energy operates as a distributor and supplier on the natural gas market in Romania, being the third major profile player.
At the same time, Premier Energy owns green/renewable energy projects in Romania, with a capacity of over 1,000 MW, projects that are owned, managed or under development, and which are equally divided between wind and photovoltaic projects.