Project description and objectives
The EBRD is considering providing up to EUR 20 million equity finance to Energobit Grup SA (EBT), a leading Romanian provider of engineering and turnkey project management for electricity networks, wind farms and power stations. The transaction is led and co-financed by Innova Capital, a private equity firm. The operation will enable EBT to strengthen its capacity to deliver engineering and maintenance services and turnkey project management for electricity networks in Romania.
The main transition impacts of this operation are demonstration of successful restructuring (diversify the activity); greater competition in the project sector (especially in the electricity grid maintenance); and setting standards of corporate governance and business conduct (publish the Annual report on the Company website). The project potentially entails a significant demonstration effect by showing to local (smaller) market players that it is possible to develop capitalizing on the local engineering knowledge and diversifying the services portfolio in adjacent markets.
The client: Energobit Group SA is a Romanian provider of engineering and turnkey project management for electricity networks, wind farms and power stations. EBT and its subsidiaries provide a very broad spectrum of electricity products and services.
Equity investment of up to EUR 20 million. The Bank is co-investing alongside Innova Capital, a private equity firm.
Total project cost
EUR 20 million
Environmental and social categorisation, impact, and mitigation
The Project has been Categorised B in accordance with EBRD’s E&S Policy (2008) and due diligence has confirmed that E&S impacts are site specific and are mitigated through the adoption of good environmental and social stewardship. Environmental and Social Due Diligence was undertaken by EBRD Specialists and comprised review of EBT and its subsidiaries’ disclosures and follow up management discussions.
Due diligence concluded that site operations present a relatively low risk of environmental and social impact and that the EBT has a well establishment environmental management system that meets the EBRD requirements and is certified to international standards. Similarly, the company has a certified health and safety management system and a human resources policy that manage issues associated with operational performance at a site level.
All of the EBT’s operations are located at purpose built industrial zones and no major incidents or accidents have occurred at any of the EBT’s facilities. In addition, contractor management procedures are in place and works in the field are managed in accordance with the company’s policies and systems. In addition, the company has an internal grievance mechanism and discloses information publically.
The operating performance of the company will be monitored by the bank on an on-going basis.
For consultant opportunities for projects financed by technical cooperation funds, visit procurement of consultants.
Florin Pop, General Manager
Cluj-Napoca, 47/11 Tăietura Turcului Street, Cluj County, Romania
tel.: 40 264 207 500, fax: 40 264 207 555
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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