Professio Energia, Mirova and RP Global announces today the closing of the acquisition by Professio Energia of 100% of the onshore wind farms Danilo (44MW) and Rudine (34MW), located in Croatia and previously owned by Mirova and RP Global.

Professio Energia is first Croatian public listed (Zagreb Stock Exchange) pure – play renewables company, owned by some of the largest Croatian institutional investors: Erste pension fund, PBZ CO pension fund and Croatia osiguranje Plc. Together with Danilo and Rudine, assets in the ownership of Professio Energia produce more than 300 GWh of green electricity each year. Professio Energia is also developing pipeline of additional 200 MW of combined wind, solar and storage facilities and is determined to secure sustainable returns to its investors from a diversified portfolio of renewables infrastructure that contributes towards a zero-carbon future.

Mirova, the affiliate of Natixis Investment Managers dedicated to sustainable investing, had acquired 95% of the Danilo and Rudine wind farms in 2017. That acquisition was made from Austrian developer and investor RP Global, which remained a 5% minority shareholder and responsible for the operation of both wind projects.

Mirova has been committed to the energy transition and local renewable energy production for 20 years. Danilo and Rudine, which are among the largest wind farms in Croatia, were Mirova's first investments in the country, where the electricity mix is composed of 40% fossil fuels1 (mainly oil and gas). Since their commissioning in 2014 and 2016, the Danilo and Rudine wind farms have produced on average more than 165 GWh of green electricity each year2, saving the equivalent of more than 25,000 tons of CO2 per year and providing electricity to more than 40,000 people in Croatia3.

RP Global, a leading renewable energy developer and investor, who initially developed and built Danilo and Rudine, is currently developing a greenfield pipeline of some 350 MW of wind and solar projects in Croatia, making the country one of its important markets in the region. This pipeline will be the basis for future long-term partnerships with best-in-class investors such as Professio Energia and Mirova. Also, RP Global’s Croatian team will continue to provide operation and maintenance services for the wind farms under a service agreement with Professio Energia.

Before the closing of this acquisition, a refinancing of the two wind projects, which were previously financed by the IFC and Unicredit, has been completed with Croatian bank Privredna Banka Zagreb d.d. member of Intesa Sanpaolo Group on 22th December 2021, enhancing the local significance of this global operation.

Raphaël Lance, Head of Energy Transition Infrastructure Funds at Mirova stated: “We are pleased to announce the sale of our two wind farms in Croatia to Professio Energia, a local and experienced player in the renewable energies, which shares a common vision of renewable energy deployment in Europe. It is a great satisfaction to have contributed with RP Global to Croatia’s development in renewable energies through the investment in Danilo and Rudine, and now to let the local actors take over the projects. RP Global, our long-standing European partner, and we have really appreciated to work with Professio Energia on this transaction, and hope that this will be the beginning of a new long-term partnership with a quality player.

For Further Reading:
1 Source : IHS Markit
2 Source : Mirova
3 Source : CIA

Mirova is an affiliate of Natixis Investment Managers.
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