Iberdrola sells Romanian wind arm for 88 mln euro to Premier Energy

Eolica Dobrogea One owns wind power assets with an installed capacity of 80 MW, Iberdrola said in a press release.

Following approval of the sale by regulatory authorities in Romania, the Spanish utility company will no longer have any assets in the country. This transaction is part of Iberdrola's broader initiative targeting an asset rotation of 12.2 billion euro for the 2024-2026 period, as per the statement.

Premier Energy, which is fully owned by Czech investment company Emma Capital, acquired Eolica through Romanian subsidiary Premier Renewable Invest Co.

Earlier this month, Premier Energy said it intends to launch an initial public offering (IPO) on the Bucharest Stock Exchange, hoping to raise around 100 million euro and finance future growth, especially in the renewables production segment.

In 2023, Premier Energy booked a consolidated net profit of 78.8 million euro on revenues of 912 million euro, according to selected financial data released by the company at the time of the IPO's announcement.

($=0.9318 euro)