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Press release
20 Sep 2022
EY assisted the Austrian renewables investment company Enery in the acquisition of a renewable energy project portfolio owned by Canada’s Jade Power Trust in Romania
EY Romania's Strategy and Transactions team assisted Enery with financial and tax due diligence services, provided financial and tax support for the sale and purchase agreement and on tax and accounting structuring issues.
Enery, also present on the energy market in the Czech Republic, Slovakia and Bulgaria, signed an agreement for the acquisition of the portfolio of renewable energy projects owned by Canadians from Jade Power Trust in Romania. The portfolio has a total capacity of 81 MW and includes the subsidiaries Transeastern Hidroelectrica Del Ucea SPV and Transeastern Rott Energy SPV III, as well as the stakes held in Power LIVE One S.A., Rott Energy S.A., Zagra Hidro S.A., Corabia Solar S.A., Holrom Renewable Energy S.A. and East Wind Farm S.R.L. The closing of the sale transaction is subject to a number of customary conditions.
We appreciated EY assistance in this transaction and would like to thank EY for their on-going support throughout the process
We are glad to have been entrusted by Enery to assist in its entry on the Romanian renewables market. The EY team skilled in renewables transactions gained in similar projects locally and in the region assisted Enery Holding throughout the due diligence and negotiation process. This transaction is part of Enery group’s strategy for becoming one of the leading renewable energy developers in Central and Eastern Europe
The Romanian financial, tax and accounting team providing the transaction services on behalf of EY was coordinated by Liliana Bușoiu, Alina Arărău and Roxana Vesa (financial), Miruna Enache and Camelia Stanciu (tax) and Cristian Vețeanu, Strategy and Transactions CESA Energy Lead.
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EY30 for Romania
To mark 30 years of continuous activity in Romania, the EY: 30 for Romania campaign was launched and will run throughout 2022. Projects, personalities and moments that have marked Romania's progress in 30 years will be brought to the public's attention, collaborative community engagement initiatives will be carried out with EY partners and collaborators.
About EY Romania
EY is one of the world's largest global professional services firms, with 312,250 employees in more than 700 offices in 150 countries and revenues of approximately $40 billion in the fiscal year ending June 30, 2021. Their network is the most integrated globally, and the resources within it help them provide clients with services that enable them to take advantage of opportunities around the world.
Present in Romania since 1992, EY is the market leader in professional services. Its more than 800 employees in Romania and the Republic of Moldova provide integrated audit, tax, legal, strategy and transaction advisory services to multinational and local companies. We have offices in Bucharest, Cluj-Napoca, Timisoara, Iasi and Chisinau. EY Romania joined in 2014 the only worldwide competition dedicated to entrepreneurs, EY Entrepreneur Of The Year. The winner of the local edition represents Romania in the world finals that take place every year in June in Monte Carlo. The World Entrepreneur Of The Year title is awarded in the global final.
About Enery
Enery is leading the green energy transition through the acquisition, development, construction, and operation of large-scale renewable energy plants. With a sustainable long-term vision, they deliver clean electricity at affordable prices to create a more sustainable energy landscape.
Headquartered in Austria, their young and ambitious team takes a forward-thinking approach to renewable energy – helping their customers to reduce both emissions and costs. Through its holistic approach to renewable energy, Enery delivers complete end-to-end solutions for a broad range of companies, utilities, and governments.
Founded in 2019, Enery has quickly become one of the leading renewable energy developers in Central and Eastern Europe. With a diverse and expanding portfolio of large-scale projects, they’re driving the transition from fossil fuels to cleaner and more sustainable sources of electricity.