Three Seas Initiative Investment Fund S.A. SICAV-RAIF (‘3SIIF’, ‘the Fund’) announces that it has made its first investment in the energy sector, acquiring a significant interest in Enery Development GmbH (‘Enery’), an operations-led renewable energy developer. 

The existing shareholders, RP Global and Enery Management, will remain invested with a long-term vision to partner for growth within the Three Seas region. The investment is due to complete following merger control approvals.

Enery owns a portfolio of 85MW of operating solar generation assets in Bulgaria, Czech Republic and Slovakia and has a significant development portfolio of over 2GW in a number of Three Seas countries, including Romania, Bulgaria, the Czech Republic and Slovakia. Its focus is to invest in operating and greenfield solar assets and other renewable power facilities in Central and Eastern Europe.

The Three Seas Fund announced in October last year that it had made its first investment, acquring a 100% interest in Cargounit - a key player in the CEE railway industry. Two months later it made its second investment, acquiring a controlling interest in Greenergy Data Centers OÜ (‘Greenergy’), a CEE data centre platform.