Macquarie Infrastructure and Real Assets (MIRA) announced that a consortium led by Macquarie European Infrastructure Fund 6 (MEIF6) has agreed to acquire a portfolio of power assets in Romania from ČEZ Group, for an undisclosed amount.

The portfolio includes nearly 86,665km of electricity distribution network and an electricity and gas supply business supplying energy to 1.4 million residential and industrial connections in Romania.

It also includes a renewable energy platform with 600MW of wind farms and 22MW of hydropower, with plans of further development.

MIRA EMEA head Leigh Harrison 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.”

The acquisition includes seven companies

The assets to be acquired by MEIF6 consortium will comprise of seven companies, including electricity distribution networks, energy supply and the Fantanele Cogealac wind park, among others.

The completion of the transaction is subject to receiving approval from European antitrust authorities and the Romanian Supreme Council of National Defence.

ČEZ Group România CEO and Management Board President Ondrej Safar said: “CEZ 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-centered 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.”

Last month, Macquarie’s Green Investment Group (GIG) had formed a joint venture with Spanish energy company Iberdrola, to co-develop a 3.3GW portfolio of six fixed bottom and floating offshore wind farms in Japan.

The offshore wind farms have been developed through Macquarie’s renewable energy platform, Acacia Renewables.