Premier Energy to Invest 100 Mln Euro in Wind Park in Romania

Source Press
Tags Asset Deals, Deals, Renewable Energy, Power
Date January 19, 2023

Source ()

Romanian gas distribution network operator and supplier Premier Energy said on Thursday it plans to invest over 100 million euro ($108 million) in a 99 MW greenfield wind park in the eastern Romanian village of Razboieni.

The wind park will have 16 wind turbines and will be financed from reinvested profits and bank loans, Premier Energy said in a press release.

Premier Energy also announced that it has acquired the Nalbant wind park in Tulcea county from local company Enex for 13 million euro.

The Nalbant wind park has a capacity of 13.75 MW and is estimated to reach a total capacity of 27.5 MW in 2024. In 2021, the park generated 33,104 MWh of electricity, Premier added.

The deal is Premier Energy's seventh on the local market. In 2022, the company invested 55 million euro in Romania.

"We continue the expansion on the main natural gas segment in Romania, at the same time, we have already set a new business line in the production of green energy. We are also focusing on Central Europe and South-East and we already have acquisition targets in the renewable energy sector in neighboring countries: Bulgaria, Greece, Croatia," the company's head of treasury, Iuliana Panescu, said.

Premier Energy SRL supplies gas to retail, industrial and commercial end-users in Romania. It also operates as the owner and operator of the gas distribution networks in and around Bucharest, the southern region, the western region, as well as smaller towns and villages in the northern part of Romania.

Premier Energy SRL is ultimately owned by Premier Energy PLC, a holding company incorporated in Cyprus, which owns gas and electricity infrastructure companies operating in Moldova and Romania.

In November, the European Bank for Reconstruction and Development (EBRD) announced that it providing a working capital revolving loan of up to 30 million euro to Premier Energy to finance the working capital needs of the company amidst rising gas prices triggered by the war on Ukraine.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd