OMV Petrom & Enery team up for Bulgaria’s Gabare solar project

Romania-headquartered OMV Petrom, an energy producer in Southeastern Europe, has acquired 50% of the Gabare solar project in Bulgaria from Enery Element. The project, located in Byala Slatina near Sofia, will have a capacity of around 400 MW with solar tracking systems to improve output. A battery energy storage system of up to 600 MWh is also being considered. The project has secured construction permits and grid connection. The final decision to invest in the project is planned by the end of 2025, and the project is expected to start operating in 2027. OMV Petrom and Enery plan to spend about €200 million (around $232.12 million) on the project by 2027, using both their own funds and outside financing. OMV Petrom also secured 50% of the electricity production through a long-term power purchase agreement.The project could cover the annual electricity consumption of approximately 150,000 Bulgarian households.OMV Petrom is also developing four photovoltaic parks totaling 550 MW in Romania’s Gorj and Dolj counties in partnership with Complexul Energetic Oltenia.