Published: May 19, 2010
Private equity firm to fund solar park developer’s growth.
Mid Europa Partners is on the verge of becoming a shareholder in a Czech Republic-based developer and operator of solar power parks.
The private equity firm, which focuses on investments in Central and Eastern Europe (CEE), has agreed to buy an undisclosed stake in Energy 21, conditional on competition clearance.
As part of the transaction, Mid Europa has agreed to inject equity into the business to fund its growth plans. Energy 21 is currently evaluating opportunities to expand into other CEE renewable energy markets.
Mid Europa managing partner Thierry Baudon said this is the firm’s first investment since it added renewable energy as one of its core markets. “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.”