Energy company Premier Energy started trading on the Bucharest Stock Exchange after an initial public offering that valued the company at 2.4 billion RON (482 million euros).
The European Bank for Reconstruction and Development announced it is taking an equity stake in the company to support investments in renewable energy generation capacity in Romania and Moldova. The EBRD bought 11% of the IPO, investing 15.5 million euros, which will give it around 3% of the company post-IPO.
Premier Energy, majority-owned by EMMA Capital, says it has over 1 GW of renewable electricity generation under ownership, management or in development in Romania and Moldova, as well as rapidly growing renewable electricity supply businesses in both countries.
EBRD’s investment and support will enable us to accelerate our renewable energy generation projects within our vertically integrated platform which includes market-leading renewable energy forecasting, balancing and dispatching capabilities alongside serving approximately 2.4 million customers, both in Moldova and Romania, Premier Energy CFO Petr Stohr said.