Mid Europa Partners, a London-based private equity and buyout firm focused on Central and Eastern Europe, has agreed to invest €60 million ($76.19 million) for an undisclosed stake in Energy 21 a Czech developer and operator of PV-solar power plants, it’s first investment in the clean energy space. Mid-Europa has indicated that it plans to grow its green portfolio and is looking for other opportunities.
Launched in 2007, Energy 21 controls 26 megawatts in installed generation capacity and has another 75 megawatts under development, all located in the Czech Republic. The company says it plans to expand beyond its home market, and the Mid Europa cash could help it do that.
“We are very pleased to have now realized our first investment in a very promising platform with significant growth prospects,” said Mid Europa’s Managing Partner Thierry Baudon in a prepared statement. He adds: “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.”