Enery completes 81 MW transaction in Romania acquiring multi technology portfolio from JADE Power Trust
Today, Enery successfully completed the acquisition of the “Transeastern” portfolio, a multi-asset renewable portfolio located in Romania with a total installed capacity of 81 MW featuring two on-shore wind parks, two solar photovoltaic assets and two hydroelectric power plants.
With this acquisition, Enery’s total operating portfolio grows to 273 MW with the total production increasing toto 375 GWh. The transaction further strengthens Enery’s presence in Romania adding to the company’s recent acquisition of 5 solar PV in Romania successfully completed in September. Starting from today, Enery is delivering not only solar-powered, but also wind- and hydro-powered green electricity to its customers.
The portfolio will be selling the majority of its energy and green certificates production under long-term offtake agreements with the largest industrial enterprises in Romania.
On the occasion of this milestone, Richard König, CEO and Lukas Nemec, COO of Enery commented: „We are happy to announce the completion of the transaction, which marks the diversification of our business into onshore wind and hydro generation and further strengthens our position in Romania. We welcome our new partners in the business and we thank Jade Power Trust and their shareholders for their cooperation in this transaction.“
About the Portfolio
The portfolio is comprised of 6 energy assets with a total installed capacity of 81 MWp. All assets are operating under the local green certificate scheme and were commissioned between 2011-2014. The portfolio was built using TIER-1 equipment suppliers, with the wind plants comprising 18 V90/3.0 MW and 4 V90/2.0 MW Vestas wind turbines and the PV assets equipped with REC Modules.
Enery is a young, operations-led renewable energy company founded by Richard König, Lukas Nemec and RP Global. The company is leading the green energy transition in Central Eastern Europe by focusing on the acquisition, development, construction and operation of renewable power plants. Since 2021, the Three Seas Initiative Investment Fund (“3SIIF”) is Enery’s cornerstone investor and is supporting the expansion of Enery’s renewable portfolio. Enery is currently producing almost 375 GWh of clean electricty, supplying almost 170,000 households across the region and saving more than 130,000 tonnes in CO2 emissions.
About Jade Power Trust
The Trust, through its direct and indirect subsidiaries in Canada, the Netherlands and Romania, has been formed to acquire interests in renewable energy assets in Romania, other countries in Europe and abroad that can provide stable cash flow to Jade Power and a suitable risk-adjusted return on investment. The Trust intends to qualify as a “mutual fund trust” under the Income Tax Act (Canada) (the “Tax Act”). The Trust will not be a “SIFT trust” (as defined in the Tax Act), provided that the Trust complies at all times with its investment restriction which precludes the Trust from holding any “non-portfolio property” (as defined in the Tax Act). All material information about the Trust may be found under Jade Power Trust’s issuer profile at www.sedar.com.