Austrian Enery buys renewable energy project portfolio owned by Canada’s Jade Power Trust in Romania

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Enery, present on the energy market in the Czech Republic, Slovakia and Bulgaria, signed an agreement for the acquisition of the portfolio of renewable energy projects owned by Canadians from Jade Power Trust in Romania.

The portfolio has a total capacity of 81 MW and includes the subsidiaries Transeastern Hidroelectrica Del Ucea SPV and Transeastern Rott Energy SPV III, as well as the stakes held in Power LIVE One S.A., Rott Energy S.A., Zagra Hidro S.A., Corabia Solar S.A., Holrom Renewable Energy S.A. and East Wind Farm S.R.L. The closing of the sale transaction is subject to a number of customary conditions.

EY Romania’s Strategy and Transactions team assisted Enery with financial and tax due diligence services, provided financial and tax support for the sale and purchase agreement and on tax and accounting structuring issues.

“We appreciated EY assistance in this transaction and would like to thank EY for their on-going support throughout the process”, declared Daniele Soldati, Chief Financial Officer of Enery.

We are glad to have been entrusted by Enery to assist in its entry on the Romanian renewables market. The EY team skilled in renewables transactions gained in similar projects locally and in the region assisted Enery Holding throughout the due diligence and negotiation process. This transaction is part of Enery group’s strategy for becoming one of the leading renewable energy developers in Central and Eastern Europe”, declared Liliana Bușoiu, leader of the Transaction Diligence department of EY Romania.

The Romanian financial, tax and accounting team providing the transaction services on behalf of EY was coordinated by Liliana Bușoiu, Alina Arărău and Roxana Vesa (financial), Miruna Enache and Camelia Stanciu (tax) and Cristian Vețeanu, Strategy and Transactions CESA Energy Lead.

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