Private equity firm, Mid Europa Partners, has signed an agreement to acquire a strategic stake in Energy 21, committing to inject new equity to support the company’s growth strategy in Central and Eastern Europe. Energy 21 currently has an installed generation capacity of 26MW, with a further 75MW in development.
Thierry Baudon, managing partner of Mid Europa, said, “Following our decision to add renewable energy to the core sectors in which we focus our deal origination efforts, we are very pleased to have now realized our first investment in a very promising platform with significant growth prospects. We intend to increase our exposure to the renewable space in Central and Eastern Europe, and hope that Energy 21 will serve as base for a series of attractive transactions to come in the near future.”
Daniel Kunz, CEO of Energy 21, said, “This anchor investment by Mid Europa, the largest private equity investor with a focus on our markets, is an important milestone for Energy 21 as it validates the direction of our development strategy to date and provides a strong foundation for the company’s next phase of growth.”
Mid Europa is also in advanced discussions with a group of banks for a project finance facility. The transaction is subject to customary closing conditions, including competition clearance.