Premier Energy Expands Its Romanian Renewables Platform

Premier Energy Group, a leading integrated energy provider in Southeastern Europe and a listed company on the Bucharest Stock Exchange, announces the acquisition of a 100% stake in a ready-to-build battery energy storage system (BESS) development located near Iasi, Romania. The project has a planned power input and output of 200 MW and an energy storage capacity of 400 MWh. This transaction represents a significant milestone for the Group, marking the expansion of its Romanian energy platform into large-scale storage and reinforcing its position as one of the most dynamic vertically integrated energy companies in the region.

“Battery storage is becoming a fundamental component of modern electricity systems, particularly in markets with increasing renewable penetration and rising balancing needs. This development aligns naturally with our strategy of building a more flexible, integrated electricity platform in Romania. Its scale places it among the largest battery plants in Southeastern Europe, and it will support the market by helping to alleviate intraday price volatility, improve grid stability and complement our renewable production and supply activities. This investment strengthens the long-term foundations of our business and allows us to continue developing a vertically integrated energy infrastructure business within the Romanian market which is rapidly developing into a regional energy hub,” José Garza, CEO of Premier Energy Group, said.

The project consists of a large-scale standalone battery storage facility that Premier Energy expects to construct primarily during 2026, with commissioning anticipated in late 2026 or early 2027. Once operational, the plant will contribute to balancing the Romanian electricity system by storing energy when production is high and releasing it during periods of low production and high demand. In a market characterized by significant 15-minute price fluctuations and an increasing number of prosumers, the facility will enhance flexibility, reduce system costs and support the efficient integration of renewable generation.

Battery energy storage systems play a crucial role in accelerating the energy transition. By providing fast-response capacity and supporting grid balancing, BESS assets help mitigate intermittency, reduce reliance on fossil-fuel-based balancing resources and improve overall system resilience. In Romania, where renewable capacity continues to grow and balancing costs remain elevated, a large-scale storage plant such as this one will become increasingly important for stabilizing the market and reducing volatility.

“This transaction highlights our commitment to expanding the Group’s footprint through disciplined investments that bring long-term strategic benefits and increase shareholder value. Large-scale storage enhances the efficiency of the entire value chain, from production to supply, and creates important synergies with our existing portfolio. We are already engaged in discussions with a major CEE financial institution regarding the project’s financing, and we are confident that this asset will integrate seamlessly into our broader energy platform. The development represents an important step in the continued evolution of our Romanian operations and our ability to support the national electricity system,” Peter Stohr, CFO of Premier Energy Group, added.

The total development and construction cost of the battery plant is estimated at approximately 75 million euros. Premier Energy’s management is currently in advanced discussions on financing options for the project, with the expectation of securing a long-term structure that supports the Group’s investment strategy and preserves flexibility for future growth initiatives.

 

About Premier Energy Group

With one of the fastest growth rates in the Southeastern European region, the Premier Energy Group operates through its business verticals – electricity production, management, distribution and supply, and natural gas distribution and supply.

The group owns, manages or has in development over 1,500 MW of renewable generation capacity (mostly wind and photovoltaics) and supplies electricity to more than 2.2 million customers in Romania and the Republic of Moldova, the vast majority being households and small businesses. The group also owns a vast electricity distribution network in the Republic of Moldova which covers approximately 75% of the country’s population.

Premier Energy is also a supplier of natural gas for domestic and non-domestic consumers (in retail, industry, trade) and owns and operates a gas distribution network of almost 4,000 km in areas surrounding the capital, the southern and western parts of the country, as well as in smaller localities in the northern part of Romania.

The company is the third-largest player in the natural gas distribution market and the 4th supplier of electric energy in Romania.

After listing on the BVB, Premier Energy Group is 71% owned by the Czech investment fund Emma Capital, founded by Czech entrepreneur Jiří Šmejc.

The BVB listing of Premier Energy PLC (symbol “PE”) in May 2024 represents the largest initial public offering (IPO) of an entrepreneurial company in the past seven years and the fifth-largest listing since the establishment of the Bucharest Stock Exchange.