Enery closes a significant capital increase from Three Seas Initiative Investment Fund S.A allowing the company to invest EUR 1bn in the transformation of the power markets in the region in the next three to five years.
Enery is pleased to announce the completion of an equity investment from Three Seas Initiative Investment Fund S.A. (3SIIF). The capital raised will be used to significantly expand the existing portfolio, in line with Enery’s aim to provide the lowest cost clean electricity across the portfolio region. The existing shareholders, RP Global and Enery Management remain invested and committed to the company’s growth strategy by developing and constructing new projects and pursuing strategic acquisition opportunities in the CEE region.
Enery is an operations-led renewable power infrastructure company. Controlling the entire value chain within the renewable power generation, Enery is a one-stop solution for industrial customers, utilities, and governments in providing low-cost renewable electricity. The existing portfolio comprises of 85 MW of operational Solar PV assets in Czech Republic, Slovakia and Bulgaria and a pipeline of c. 2 GW of assets under development. Enery is maintaining high environmental, social and governance standards and is focused on making a meaningful contribution to CEE’s decarbonisation pathway. Enery has created 60 jobs since inception and is looking to heavily invest in new employees and training of apprentices in Austria and CEE in the future.
The Enery founders Lukas Nemec and Richard König added: “We are pleased that 3SIIF has committed such a significant amount of capital to Enery, allowing us to accelerate our vision of decarbonizing the power markets in the region. With 3SIIF’s investment, we will be able to invest EUR 1bn in the energy transition of a region which is going through a massive transition shifting from coal- and lignite-dependent power generation to a fully renewable based and sustainable generation mix. 3SIIF’s mandate is well aligned with our aim to be a leader in the green energy transition, providing clean, reliable, and affordable electricity to customers in Central and Eastern Europe and Austria. We would like to thank our founding partner RP Global for the trust and support they have given us in the last two years, and we look forward to continuing the growth of Enery together with 3SIIF and RP Global.”
Gerhard Matzinger, CEO of RP Global, said: “It is great to be part of this exciting venture that RP Global had the opportunity to support from its inception less than two years ago! An amazing management team, with the support of a long term, committed investor with strong regional ties – a perfect match to make this an exceptional success story.”
Enery represents 3SIIF’s third portfolio investment and first investment in the energy sector. The Fund has now made investments in each of its core sectors: transport, energy and digital infrastructure. The Fund’s previous investments include Cargounit – one of the largest private locomotive leasing companies in Europe in Poland – and Greenergy Data Centers – a CEEfocused data centre platform. Amber Infrastructure Group is the investment adviser to the Fund and is responsible for origination, asset management and capital raising services.
Joe Philipsz, Senior Investment Director at Amber Infrastructure, investment adviser to 3SIIF, noted: “Enery represents a significant milestone for the Fund as it makes its first energy sector investment. We are delighted to be working with an established and highly regarded management team to build significant new renewable generation assets across the Three Seas region”.
The Three Seas Initiative Investment Fund
3SIIF is a dedicated commercial fund targeting infrastructure investments in Central and Eastern Europe. The Fund invests in energy, transport and digital infrastructure in the Three Seas region where the demand for long-term commercial investment intonational infrastructure is among the highest in the European Union (‘EU’). The Three Seas region is comprised of 12 EU CEE member states which border the Baltic, Adriatic and Black Seas. The Fund’s investments comprise: Enery, a renewables development platform; Cargounit, a locomotive leasing business in Poland; and, Greenergy, a data centre platform in Estonia.
Amber Infrastructure Group
Amber Infrastructure (‘Amber’) is a specialist international investment manager, focused on investment origination, asset management and fund management. Amber’s core business focuses on sourcing, developing, advising, investing in and managing infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors that support the lives of people, homes and businesses internationally. Amber is headquartered in London with offices in Europe, North America and Australia and employs over 130 infrastructure professionals.
Enery is a young, renewable energy IPP founded by Richard König, Lukas Nemec and RP Global. Its focus is to invest in operating and greenfield solar assets and other renewable power facilities in CEE and Austria.
RP Global is a Vienna/Madrid-based independent power producer with more than 35 years of experience in renewable energies. As a developer, investor and operator, the company’s focus is on hydro, wind and solar PV projects in Europe, Africa and South America. Currently, RP Global is actively developing a pipeline of around 9 GW.