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HomeBalkansRomania's OMV Petrom acquires 710 MW of solar projects

Romania’s OMV Petrom acquires 710 MW of solar projects

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Romanian oil company OMV Petrom (BSE:SNP) has agreed to acquire a cluster of photovoltaic (PV) projects at home with a combined direct current (DC) capacity of about 710 MW from Danish developer Jantzen Renewables ApS, the companies announced today.

The deal is expected to be completed in the second quarter of 2024 when the projects will become shovel-ready. The projects have already secured access to the national electricity transmission network.

Located in Teleorman county in southern Romania, the Helios 1 cluster will be one of Southeast Europe’s most significant solar developments, capable of powering the equivalent of about 280,000 Romanian households, the firms said.

Franck Neel, OMV Petrom executive board member, responsible for the Gas and Power activity, said the acquisition aligns with OMV Petrom’s objective of having at least 1 GW of installed renewables capacity by 2030, including through partnerships.

“In addition, it allows us to adequately respond to the ever-increasing demand for green energy, contributing at the same time to the strengthening of Romania’s security of supply and energy resilience,” Neel added.

Source: Renewables Now

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