OMV Petrom invests in Romanian solar

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.