Premier Energy acquires 158 MW wind portfolio in Hungary

Premier Energy (BVB: PE) has signed an agreement to acquire a 51% controlling stake in Iberdrola Renovables Magyarország, the Hungarian subsidiary of Spain’s Iberdrola. The company owns five operational wind farms with a combined installed capacity of 158 MW, commissioned between 2008 and 2010 in northwestern Hungary, one of Central Europe’s strongest wind regions.

The deal marks Premier Energy’s first major investment in power generation outside its traditional markets of Romania and the Republic of Moldova. The company said the acquisition lays the foundation for sustainable expansion in Hungary, a country it described as having strong market fundamentals and a strategic position in the region.

Following the transaction, Premier Energy’s renewable platform across Romania, Moldova, and Hungary will exceed 500 MW of owned capacity, including assets under construction.

The total enterprise value of the deal is set at EUR 128 million for 100% of the shares, with a lockbox mechanism effective from January 1, 2025. After closing, Premier Energy will retain 51% and management control of the Hungarian company, while the remaining stake will be held by Budapest-based iG TECH CC Zrt.

Completion is expected in late 2025 or early 2026, subject to regulatory approvals.

To finance the acquisition, Premier Energy secured a EUR 90 million (envisaged for 100% stake acquisition) syndicated loan from Vista Bank and Greece’s Optima Bank, which acted as Mandated Lead Arrangers and Original Lenders.

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