The European Bank for Reconstruction and Development (EBRD) is taking an equity stake in Premier Energy, one of the fastest-growing vertically integrated energy infrastructure companies in southern and eastern Europe, to support investments in renewable energy generation capacity in Romania and Moldova.
The EBRD bought 11 per cent of shares offered at the initial public offering (IPO) of Premier Energy, a company incorporated in Cyprus, following an investment of 15.5 million euros.
The transaction supports both Romania’s and the EBRD’s green targets.
Proceeds from the EBRD’s participation in the IPO will be allocated towards building new renewable energy capacity primarily in Romania and the project pipeline is estimated to result in more than 168,000 tonnes of annual carbon dioxide emissions reductions.
“We are excited to partner with Premier Energy and support its renewables growth journey. Premier Energy’s green energy transition strategy aligns perfectly with the EBRD’s priorities in the region,” said Grzegorz Zielinski, Director, Energy Europe at the EBRD.”
“We are pleased to welcome the EBRD as a shareholder in Premier Energy. This investment further strengthens our long-standing collaboration and underscores the importance of our shared commitment to renewable energy and sustainability in both Moldova and Romania,” added Jose Garza, Premier Energy CEO. “With the EBRD’s investment, we are well-positioned to expand our renewable energy capacity and drive significant reductions in carbon emissions. This partnership reflects our dedication to achieving long-term growth and making a positive environmental impact.”
The EBRD has to date invested almost 11 billion euros in 525 projects in Romania and more than 2.3 billion euros in 173 projects in Moldova.