Mid Europa Partners, the largest private equity firm focused on Central and Eastern Europe, has increased its stake in Energy 21 to 95 per cent.
Energy 21 is a Czechoslovakia-based developer solar photovoltaic power parks, with an installed generation capacity of 62MW. The company said it will continue to evaluate growth opportunities in the CEE renewable energy markets on ongoing basis.
The firm fist acquired a strategic stake in the company back in May 2010. At the time, Thierry Baudon, managing partner of Mid Europa, said, 'Following our decision to add renewable energy to the core sectors in which we focus our deal origination efforts, we are very pleased to have now realised our first investment in a very promising platform with significant growth prospects.
'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,' he added.
Operating from London, Budapest and Warsaw, Mid Europa advises and manages funds with asset value of approximately €3.2bn.