InterCapital is pleased to announce that our Investment Banking team has acted as the exclusive sell-side advisor to Šerif Group, a leading wood processing group in Croatia, in the carve-out and sale of Šerif Energetika to Ancala, a leading independent infrastructure manager.

As part of the transaction, Šerif Group carved out its energy business (Šerif Energetika), which includes three biomass cogeneration plants located in Glina, Karlovac, and Brinje, with total installed capacity of 14.6 MWe. All three plants have 14-year PPAs with HROTE, running until September 2031 (Glina), September 2034 (BE-TO Karlovac), and July 2035 (BE-TO Brinje).

In addition to the power plants, Šerif Energetika also has adjacent facilities which include wood drying facilities, a sawmill, a briquette production plant, and a wood steaming facility, all of which use produced thermal energy.

This transaction marks an exit from the renewable energy business for Sherif Group and an opportunity to focus on its core businesses. For Ancala, Šerif Energetika portfolio becomes the fifth biomass CHP plant in their Central and Eastern European Renewables Platform, with a total installed capacity of 24.6 MWe.