Premier Energy finalizes 90% acquisition of Romanian solar park, eyes wind project in Moldova

Premier Energy PLC, through its subsidiary Alive Renewable Holding Limited, completed the acquisition of a 90% stake in Development Power Solar Energy S.R.L., a company holding rights for a 49 MW DC solar park with a 16 MWh energy storage facility in Buzău County, Romania. The project is expected to reach commercial operation by the second half of 2025, as per a report submitted to the Bucharest Stock Exchange. The acquisition was previously announced on June 17, 2024.

In another move, Premier Energy’s Moldovan subsidiary, Navitas Energy S.R.L., acquired a 100% stake in Elteprod Wind S.R.L., which owns a 16,238 sqm plot near Ștefan Vodă, Republic of Moldova. The company plans to explore the development of an 8 MW wind farm on this site.

These acquisitions align with Premier Energy’s strategy to pursue renewable energy projects and integrate vertically across the energy value chain. Premier Energy currently supplies electricity to approximately 2.3 million customers in Romania and Moldova. The company highlighted that the completion of these renewable assets will bolster regional energy security and combat climate change.

Source: financial intelligence