Photovoltaic energy producer MW Green Power Export lists a new issue of bonds on the Bucharest Stock Exchange

8/31/2021

  • The second issue of MW Green Power Export bonds starts trading today, August 31st, on the Multilateral Trading System of the Bucharest Stock Exchange.
  • The company attracted a total of over RON 7,4mn through the two bond issues listed at the Bucharest Stock Exchange.

 

The photovoltaic energy producer MW Green Power Export is listing today, August 31st, its second issue of bonds at the Bucharest Stock Exchange, on the Multilateral Trading System (MTS). The new bond issue is traded under the ticker MWGP24. With its two bond issues listed on the Bucharest Stock Exchange, the company has attracted from investors a total of over RON 7.4mn. MW Green Power Export is a renewable energy producer, managing its own photovoltaic farm, covering an area of 10 hectares in the town of Videle.

This year, bonds have been a financial instrument intensively used by companies in obtaining funding. This reflects on the one hand the companies’ need for capital and, on the other hand, their willingness to diversify their capital providers, including capital market mechanisms. We are glad that the investors on the market have backed, by RON 53.6mn and EUR 66.6mn, the plans of Romanian entrepreneurs, if we only refer to the corporate bonds issued by local entrepreneurial companies’, said Radu Hanga, President of the Bucharest Stock Exchange. 

`In 2020, Green Certificate revenues accounted for 60.5% of the MW Green Power Export total income, while by the end of 2021 we estimate an increase in production at comparable parameters to last year’s, of about 6,800 MW, and a slight increase in the gross profit, also supported by cash from the sale of power and Green Certificates.  It is also important to emphasize that by the end of last year, the company owned 97,700 deferred Green Certificates to be sold over a period of 10 years equally, according to the legal provisions in place. We wish to maintain the same growth trend until 2030, in keeping up with the European Union objectives and in order to play on a fully integrated, inter-connected and digitized energy market’, stated Ioan Iurasec, Sole Administrator of MW Green Power Export.

The company has issued 43,958 corporate bonds, at a nominal value of RON 100 and 8% annual rate, maturing on 7th September, 2024. The company has thus attracted, from 87 investors, a total RON 4,395,800. The bond listing was made with the help of Intercapital Invest. MW Green Power Export is listing its second bond issue on the BVB SMT. The first bond issue, amounting to RON 3.03mn, is traded under the MWGP21 ticker and matures in December 2021.

‘MW Green Power Export proves today, by listing a second bond issue, its commitment to develop by means of the capital market, an opportunity that allows it to develop ambitious projects, in keeping up with the European Union requirements in the energy sector. The company development includes investment projects involving substantial capital injection, especially in the current context, where new technologies and energy products, especially from renewable sources, are reforming the structure of the energy system, in that they support a better quality of life and care for the environment. As a consultant, Intercapital Invest has supported MW Green Power Export in this project of funding important investments, integrated with the development strategies. I wish to stress that any company with ambitious development plans may tap the resources of the capital market, considering listing with the Bucharest Stock Exchange as a funding option, and this period of market growth should be an important catalyst’, said Mihaela Stoica, General Director of Intercapital Invest.

In 2020, MW Green Power Export had a turnover of RON 3.27mn, which was reflected in the company net profit that grew by 42% from about RON 182,700 in 2019 to RON 260,600 in 2020.

The main sources of revenue for MW Green Power Export include the sale of electricity produced by the photovoltaic farm at Videle, and the trade of Green Certificates associated to the electricity generated. During 2016 – 2020, the annual energy output of the photovoltaic farm was of 6,755,883 KW.

The main company shareholders are the Alternative Investment Fund Certinvest Green holding 56.85% and NG Return Expert holding 42.97%.

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MW Green Power Export S.A. holds the license for energy production granted by the Energy Regulator ANRE on 8th July 2013. The company is recorded on the Transelectrica Green Certificate Register, while the photovoltaic farm is included on the Centralized Bilateral Energy Contracts Market (PCCB) and the Centralized Market for Green Certificates (PCV).