Green Forum • 29 May, 2024 at 10:00 AM
The European Bank for Reconstruction and Development (EBRD) is taking an equity stake in Premier Energy PLC, a rapidly growing, vertically integrated energy infrastructure company in southern and eastern Europe, to support investments in renewable energy generation capacity in Romania and Moldova.
EBRD purchased 11 percent of the shares offered during Premier Energy's initial public offering (IPO), investing €15.5 million. These shares will be listed on the Bucharest Stock Exchange, and the EBRD's investment will represent just over three percent of the company post-IPO.
This transaction aligns with both Romania's and the EBRD's green targets. Proceeds from the EBRD's participation in the IPO will be allocated to building new renewable energy capacity primarily in Romania, with an estimated reduction of over 168,000 tonnes of annual carbon dioxide emissions.
As a leader in climate finance, the EBRD is dedicated to supporting Romania's and Premier Energy's green energy transition. Their involvement was crucial for the IPO's success, anchoring the issuance and attracting other investors. The EBRD will aid Premier Energy in climate action, transitioning to a low-carbon pathway, and improving corporate governance. Additionally, Premier Energy will enhance its standards for promoting gender equality.
To date, the EBRD has invested nearly €11 billion in 525 projects in Romania and over €2.3 billion in 173 projects in Moldova.