Largest energy company in Moldova changes name

Chisinau, 12 December /MOLDPRES/ – The largest energy company of Moldova, Gas Natural Fenosa, owned by EMMA Capital Group, has changed its name to Premier Energy. The sale and purchase process of 02 companies in the Gas Natural Fenosa group has ended. The name of Premier Energy is also the main energy and natural gas distribution company in Romania.

The two energy companies, supplying and distributing electricity, Gas Natural Fenosa Furnizare Energia and Red Union Fenosa S.A. bear the names and image of new brands, Premier Energy and Premier Energy Distribution, starting 11 December.

"This transformation, focused on modernisation and innovation, signifies a new stage in the history of companies: a stage of challenges and opportunities, of consolidation and growth," says the press service of the company. The new brand is an international one, designed for the future and focused on innovation, accessibility, clean energy and well – being of people.

"With Premier Energy we shall continue to be an international brand and make new commitments to be closer to our customers, when and where they need them, and to offer them simple, accessible and environmentally friendly solutions," said country manager Premier Energy in Moldova, Jose Luis Gomez Pascual.

The company manager has added that it is recognised as a company close to people, with commitments to consumers. “We are continuing to improve processes and implement technologies that will meet the needs of our customers. We shall be more accessible and more interested in clean energy,” said Jose Luis Gomez Pascual.

In April 2019, the Naturgy Energy Group signed sale – purchase agreement for electricity distribution and supply companies in Moldova, Red Union Fenosa and Gas Natural Fenosa Energy Supply with the international group Duet Private Equity Limited. The new owner of 02 companies is the international company Duet Private Equity Ltd, based in London, with a wide range of investments in various types of assets and with a growth strategy in the region. Economist wrote that the operation could be valued at over €500 mln.

During recent 20 years, energy, electricity supply and distribution companies have brought energy to a higher level in Moldova throughout investments of over €287 mln in renovation and modernisation of electricity networks. The distribution and supply companies concerned serve about 900,000 customers, individuals and legal persons, distributing electricity in 19 administrative – territorial units, including in Chisinau municipality, which constitutes 2/3 of the territory of Moldova.