OMV Petrom acquires 50% of Electrocentrale Borzești

The latter owns renewable energy projects with a capacity of approximately 1,000 MW, comprising 950 MW of wind power and 50 MW of photovoltaic capacity. The acquisition was announced earlier this year. The wind projects will be developed, built, and operated with RNV Infrastructure. The photovoltaic project is in production tests.

In addition, in another transaction with Renovatio Group, OMV Petrom acquired renewable energy production assets with a capacity of approximately 18 MW, comprising 16 MW of wind power and 2 MW of hydroelectric power. The assets are operated by OMV Petrom.

Both transactions were approved by the Competition Council and the Commission for the Examination of Foreign Direct Investments.

Franck Neel, OMV Petrom Executive Board Member responsible for Gas and Power: "These transactions reflect our strong commitment to invest in renewable energy. We are proud to announce that OMV Petrom became a producer of renewable energy, as some of the assets that entered our portfolio are already producing and delivering renewable energy to the grid.”

Aurel Arion, CEO of Renovatio: "We are pleased to announce the completion of our partnership with OMV Petrom. Our partnership reflects confidence in the potential of the Romanian renewable energy market and reconfirms our commitment to contribute to a more sustainable energy future."

The projects that will be developed in partnership with RNV Infrastructure are located in the northeastern area of Romania. The photovoltaic farm is in the testing period, while the wind farms are expected to start production between 2025 and 2027 gradually. The annual production share of OMV Petrom is estimated at approximately 1.4 TWh.

The operational assets include two wind farms located in eastern Romania, with a total installed capacity of 16 MW, and a micro-hydro power plant, with a capacity of 2 MW, in northwestern Romania. The estimated cumulative annual production is approximately 45 GWh.