Global alternative asset management firm Macquarie Infrastructure and Real Assets (MIRA) has announced that a consortium led by Macquarie European Infrastructure Fund 6 (MEIF6) agreed to acquire Romanian power assets portfolio from ČEZ Group.

The asset portfolio comprises 86,665km of the regulated electricity distribution network, as well as an electricity and gas supply business with 1.4 million residential and industrial connections across south-west Romania.

The acquired assets portfolio also includes 622MW of onshore wind farms with further development plans in the future.

MIRA manages and develops electricity distribution networks in Australia, Austria, Finland, Spain, and the US.

It is also a major investor in clean energy, managing investments in 12.4GW of green generation capacity worldwide.

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.”

Financial details of the deal have not been disclosed. Completion of the deal is subject to the receipt of customary regulatory approvals.

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.

“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.”