OMV Petrom (BVB: SNP), the largest integrated energy producer in Southeastern Europe, has taken the final investment decision for Gabare, one of Bulgaria's largest integrated solar power and battery storage projects.

Located in the Byala Slatina region, the project will include a photovoltaic plant with a capacity of around 415 MWp and a battery energy storage system - BESS with storage capacity of approximately 600 MWh.

"Our first battery storage project marks an important step in the development of a modern energy portfolio, where renewables and flexibility solutions complement each other. At the same time, we are expanding our regional footprint by developing projects in Bulgaria, in addition to Romania," said Franck Neel, Member of the OMV Petrom Executive Board responsible for Gas & Power.

The project requires investments of about EUR 300 million, including roughly EUR 100 million earmarked for the battery storage component. Financing will come from the partners' own resources as well as external sources.

The development will be carried out by Dunav Solar Plant OOD, a joint venture equally owned by OMV Petrom and Austrian renewable energy company Enery.

According to the company, the Gabare project has already secured the necessary permits and has reached the ready-to-build stage. Construction is expected to begin after the signing of the engineering and construction contract, with the first electricity production scheduled for 2028.

OMV Petrom has already secured a power purchase agreement (PPA) under which it will acquire 50% of the solar park's future output.

The investment marks OMV Petrom's first project combining renewable generation with battery storage and further expands its regional presence beyond Romania.

The company has maintained operations in Bulgaria for many years across the energy value chain, including fuel retail, natural gas trading, and offshore exploration activities in the Black Sea.

OMV Petrom operates a network of 93 filling stations in Bulgaria and, since 2024, has been supplying natural gas to non-household customers in the country through its local subsidiary.

iulian@romania-insider.com

(Photo source: Omvpetrom.com)