By Andrei Skvarsky
Private equity investment firm Mid Europa Partners has bought a strategic stake in Energy 21, a major Czech solar power company, as one of the signs that buyout activity is returning to Central and Eastern Europe (CEE).
Mid Europa, an independent partnership focused on CEE and having about 3.2 billion euros under management and offices in Budapest, London and Warsaw, has also pledged to make further capital injections into Energy 21 to support the extensive growth plans of the Prague-based company, which builds and operates solar power plants, Mid Europa said in a press release.
Mid Europa's buyout of Energy 21 follows a decision by the partnership to add renewable energy to its core investment sectors and is its first capital input into what its managing partner, Thierry Baudon, has described as “a very promising platform with significant growth prospects”.
Mid Europa did not disclose how much it is to pay for its stake in Energy 21, which has a long-term goal of being one of Europe's main environment-friendly energy producers.
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