OMV Petrom and Oltenia Energy Complex to build four solar farms over closed mines

OMV Petrom and the Oltenia Energy Complex will invest EUR 400 mln into building four new solar farms with a total power of 450 MW.

The gas and oil giant, along with the state-owned network of coal mines and power plants, closed the deal at the end of last year and is now set to break ground at the four sites. The new solar farms will be built on former mines, at Işalniţa, Tismana, Roşia, and Rovinari.

Around 70% of the funds necessary for the new solar farms will come from the EU-backed Modernization Fund. The Fund is a financing instrument dedicated to the modernization of energy systems in Eastern European countries of the EU.

“We planned that by 2030 we will achieve an energy production capacity greater than 1 GW, all from renewable sources, including through partnerships. By associating with CE Oltenia, we are making significant progress towards this goal and together we are contributing to Romania's energy transition,” said Franck Neel, member of the OMV Petrom Directorate, cited by Ziarul Financiar. Neel also said that the four parks will increase the current installed power obtained through solar energy by a third.

“CE Oltenia - the largest coal-based energy producer in Romania, must adapt its development strategy to the new trends and requirements aimed at decarbonizing the energy system and diversifying Romania's energy mix,” said Daniel Burlan, head of CE Oltenia. He added that the partnership with OMV represents another step in Romania’s transition to greener energy sources.

OMV and CE Oltenia will hold equal stakes in the new legal entities that will be set up to manage the solar power stations.

The four solar farms will supply the national grid with power starting in 2024.

(Photo source: doric1950 | Dreamstime.com)