OMV Petrom takes over new PV projects in Romania

OMV Petrom, the largest integrated energy producer in Southeastern Europe, announced that it strengthened its partnership with Renovatio by acquiring a 50% stake in three photovoltaic projects totaling 130 MW.

The projects will be developed, built, and operated in partnership with Renovatio. Thus, the two partners will have a total joint installed capacity of over 1.1 GW by 2030.

"The projects for reducing our carbon footprint and that of our customers, are a central piece of our strategy. About a third of the EUR 11 billion investments by 2030 will be allocated to low and zero carbon projects," said Christina Verchere, CEO of OMV Petrom.

This transaction complements the one announced earlier this year for the acquisition of a 50% stake in Electrocentrale Borzesti, which owns renewable projects with a capacity of approximately 1 GW.

Completion of the transactions is expected to occur in the second part of 2024, subject to the fulfillment of certain conditions. Parties have agreed not to disclose the purchase price.

These new projects have already received access to the national power transmission grid.

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