Macquarie Infrastructure and Assets to Acquire ČEZ Group’s Energy Assets in Romania

EU Commission gives its nod for a deal brokered by Macquarie and ČEZ in October 2020 for an undisclosed sum

The European Union Commission has approved MIRA’s (Macquarie Infrastructure and Real Assets) acquisition of Czech group ČEZ’s energy assets in Romania. The Commission has assured stakeholders that the acquisition will not raise concerns of anti-competition. The activities of both companies will continue to run independently.  In addition to ČEZ Romania, other companies involved in this agreement are Distributie Energie Oltenia, Ovidiu Development, Tomis Team, MW Team Invest, ČEZ Vânzare and TMK Hydro energy Power.

ČEZ has an exhaustive energy portfolio in Romania, in which electricity distribution and supply are integrated with a renewable energy platform. Macquarie Group will now gain control of a regulated electricity network spanning over 85,000 km, an electricity and gas business with 1.4m residential and industrial connections in southwest Romania and onshore wind farms on the Romanian coast with a combined capacity of up to 622MW. Leigh Harrison, Head of MIRA, said: “Romania is one of Europe’s most dynamic economies, and its energy infrastructure is critical to supporting the country’s long-term growth and low-carbon transition. We are delighted to announce this investment and we look forward to supporting this critical infrastructure business as it invests to deliver more reliable, efficient, safe, and sustainable electricity to the communities it serves.”

ČEZ Romania has stated that this acquisition is in line with ČEZ Group’s strategy to gradually withdraw assets from selected countries. Ondrej Safar, CEO and President of the Management Board of ČEZ Group in România, said: “ČEZ in România has often pioneered bold and innovative initiatives that have stimulated the consolidation and development of the Romanian energy sector. Our team of highly skilled specialists has been able to do this by endorsing digital transformation and pursuing a client-centred business strategy. With the acquisition by MIRA, we are looking forward to building on these results with an experienced long-term investor that will support our business going forward.” The group is currently exploring the sale of its energy assets in Bulgaria and Poland. In Romania, it will now be focused on energy trading via ČEZ Trade and on providing energy services as part of Hi-Tech Climate.