The loan will finance the company’s working capital needs amidst rising gas prices triggered by the war on Ukraine. It will enable Premier Energy to purchase gas and provide an uninterrupted supply to consumers in Romania in the coming winter, safeguarding livelihoods.
The transaction is part of the EBRD’s Resilience and Livelihoods framework, which supports companies and countries affected by the war on Ukraine.
“We are happy to support Premier Energy with its working capital needs and, more importantly, its decarbonisation journey. The EBRD’s support will ensure uninterrupted provision of vital energy services, and at the same time contribute to Romania’s green transition,” said Mark Davis, EBRD Director, Regional Director for Romania and Bulgaria.
“We are grateful for the EBRD’s support to Premier Energy SRL and view this as a milestone transaction for Premier Energy Group. This new working capital credit line is important as it provides stability in these uncertain times and will allow us to support our customers and hopefully continue to grow our energy business, said Jose Garza, CEO Premier Energy.
Premier Energy SRL supplies gas to retail, industrial and commercial end-users in Romania. It also operates as the owner and operator of the gas distribution networks in and around Bucharest, the southern region, the western region, as well as smaller towns and villages in the northern part of Romania. The company is ultimately owned by Premier Energy PLC, a gas and electricity infrastructure group operating in Moldova and Romania.