OMV Petrom, Southeastern Europe’s leading energy producer, has agreed to acquire a 50% stake in three Romanian solar projects totaling 130 MW, in partnership with Renovatio. This investment aligns with OMV Petrom’s strategy to allocate a significant portion of its €11 billion investment by 2030 to low and zero-carbon initiatives. Earlier this year, OMV Petrom acquired a 50% stake in Electrocentrale Borzesti’s renewable projects, with a capacity of about 1 GW. The new solar projects are expected to be operational by late 2024, with secured access to the national power grid. The purchase price remains undisclosed. The collaboration aims to develop, construct, and operate these projects, projecting a combined installed capacity of over 1.1 GW by 2030.
OMV Petrom invests in Romanian solar
OMV Petrom’s acquisition supports its goal to allocate one-third of €11 billion investments to low carbon projects by 2030. (Image Credit: DALL-E)
India, China, and Indonesia will lead APAC’s 57 GW dc floating solar capacity, achieving 31 GW (DC) combined by 2033. (Image Source: SOLARbytes)
EOS Capital Advisors advised Balanced Rock Power in selling its 25 MW solar project to Standard Solar. (Image Source: Standard Solar)
China Energy Engineering Corporation taps Huasun’s high-efficiency HJT solar modules for its 2024 projects. (Image Source: Huasun)
Saatvik Solar will supply GH2 Solar with bifacial PV modules over a 12-month period beginning January 2025. (Image Source: Saatvik Solar)