November 22, 2024
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HomeSEE Energy NewsRomania: Premier Energy completes acquisition of Iberdrola’s wind farm

Romania: Premier Energy completes acquisition of Iberdrola’s wind farm

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Romanian Vista Bank and Greek Optima Bank have arranged a syndicated loan of 61 million euros for Premier Energy Group, a leading energy infrastructure holding in southeastern Europe. The loan will fund Premier Energy’s acquisition of Eolica Dobrogea One from the Iberdrola Group. The wind farm, located in Mihai Viteazu commune, Constanta county, has an installed capacity of 80 MW and an estimated annual electricity production of 165 GWh. The total transaction value is 88 million euros.

Previously operated by Alive Capital, a subsidiary of Premier Energy, the wind farm will now complete Iberdrola’s exit from the Romanian market. Premier Energy is expanding rapidly in Romania’s energy sector, having recently acquired electricity supplier CEZ Vanzare from Macquarie Asset Management in April. This acquisition marked Premier Energy’s entry into the local electricity supply market.

In May, Premier Energy completed its initial public offering (IPO) on the Bucharest Stock Exchange (BVB) with a final share price of 3.92 euros, near the lower end of the pricing range (3.82-4.32 euros), valuing the company at approximately 490 million euros.

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