Bucharest-based energy group Premier Energy is gearing up to significantly enhance its renewable energy capacity by 50% to reach 1.5 GW within the next two-to-three years. In a recent interview, the company's chief executives unveiled ambitious growth strategies, highlighting a focus on expanding their foothold in neighboring Moldova while consolidating their position in Romania's energy landscape.
Owned by Czech investment holding Emma Capital, Premier Energy currently boasts a substantial green energy portfolio, encompassing 1,000 MW of projects either under ownership, management, or in various stages of development across Romania. This portfolio, evenly distributed between wind and solar installations throughout the country, underscores the company's commitment to sustainable energy solutions.
Reflecting on their recent endeavors, Premier Energy's Chief Financial Officer, Peter Stohr, emphasized the pivotal role of electricity generation management and supply in driving the company's growth trajectory. Stohr stated, “The biggest growth is the electricity generation management and supply,” underscoring their unwavering dedication to this sector.
Premier Energy's expansion plans align closely with Romania's broader objectives of reducing carbon emissions in accordance with European Union (EU) climate targets and enhancing energy security, particularly in the wake of geopolitical developments such as Russia's invasion of Ukraine. As an EU member state, Romania has pledged to phase out coal by 2032, opting instead for a diversified energy mix comprising gas, nuclear, and renewable sources.
Addressing challenges within the renewable energy sector, Premier Energy's Chief Executive, Jose Garza, highlighted the significance of securing long-term power purchasing agreements (PPAs) with commercial consumers to facilitate bank financing for renewable projects. Garza identified this as a key hurdle for developers striving to realize their renewable energy ambitions.
With a robust presence in Romania spanning over a decade, Premier Energy has witnessed remarkable revenue growth, surging from 13 million euros ($14.09 million) to approximately 900 million euros in 2023. This growth trajectory has been fueled in part by strategic acquisitions, totaling 25 over the years, which have bolstered the company's market position and operational capabilities.
In response to inquiries regarding a potential listing on the Bucharest Stock Exchange, Stohr expressed optimism about the company's growth prospects, hinting at potential diversification of financing avenues. Stohr stated, “We're really sort of positive on the growth aspects of the company, so we may look to diversify our financing needs,” signaling a forward-looking approach to addressing future capital requirements.
