Mid Europa acquires stake in Czech solar developer Energy 21

Mid Europa said it is also in advanced discussions with a group of banks to secure a project finance facility to aid its regional expansion.

Energy 21 is the largest Czech-based independent developer and operator of solar power parks in Central and Eastern Europe, with an installed generation capacity of 26MW and a further 75MW in development.

The company is in the process of growing its local market asset base and evaluating opportunities to expand into other Central and Eastern European renewable energy markets.

Thierry Baudon, managing partner of Mid Europa, said, "Following our decision to add renewable energy to the core sectors in which we focus our deal origination efforts, we are very pleased to have now realised our first investment in a very promising platform with significant growth prospects.

"We intend to increase our exposure to the renewable space in Central and Eastern Europe, and hope that Energy 21 will serve as base for a series of attractive transactions to come in the near future," he added.

Mid Europa’s director Stefan Tzvetkov said the firm is looking to combine its pan-regional investment expertise with Energy 21’s renewable industry know-how and entrepreneurial management in an effort to build a platform for future growth in Central and Eastern European photovoltaics.

Daniel Kunz, CEO of Energy 21, said, "This anchor investment by Mid Europa, the largest private equity investor with a focus on our markets, is an important milestone for Energy 21 as it validates the direction of our development strategy to date and provides a strong foundation for the company’s next phase of growth."

Having invested in the CEE region since 1999, Mid Europa Partners operates from London, Budapest and Warsaw and manages funds with an asset value of approximately €3.2bn.

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