Premier Energy announced the completion of the transaction for the acquisition of 51% and control of Iberdrola Renovables Magyarorszag KFT from Iberdrola Renovables Internacional S.A.U., according to a report submitted to the Bucharest Stock Exchange.

The transaction was successfully completed, after fulfilling all customary conditions precedent and obtaining the necessary regulatory approvals. As previously announced, the transaction value is EUR 128 million for 100% of the shares of the Target Company, with a lockbox mechanism applicable from January 1, 2025.

The acquired assets include an operational wind capacity of 158 MW, consisting of 79 wind turbines located in two sites in northwestern Hungary, one of the best wind areas in Central Europe, due to the relatively constant air currents coming from the corridor between the Alps and the Little Carpathians, generating approximately 300,000 MWh of green electricity annually, according to Financialintelligence.

For this transaction, the Company contracted a syndicated loan of EUR 90 million, granted by Vista Bank and Optima Bank (Greece), as Mandatory Lead Arrangers and Initial Lenders, to partially finance the acquisition.

Following the completion of the transaction, Premier Energy holds a 51% stake and control over the Target Company, with the remaining 49% held by iG TECH CC Zrt., an investor based in Hungary.