Romanian oil company OMV Petrom has announced the successful completion of its acquisition of several photovoltaic (PV) projects with a combined capacity of approximately 710 megawatts (MW) from Danish developer Jantzen Renewables ApS.
The deal, originally disclosed in June 2023, has received the necessary approval from the Commission for the Examination of Foreign Direct Investments.
The PV projects are located in Teleorman county in southern Romania and are currently shovel-ready. OMV Petrom indicated that the next phase involves identifying suitable partners for the construction of the projects.
Earlier this year, the company issued a request for expressions of interest from firms interested in managing the construction process.
With access to the national power transmission grid already secured, the projects are anticipated to begin supplying power to the grid in the second half of 2026.
“This acquisition marks a key step forward in OMV Petrom's firm commitment to develop a portfolio of around 2.5 GW of installed renewable energy capacity by 2030, capitalizing on strategic partnerships,” said Franck Neel, a member of the OMV Petrom executive board responsible for gas and power.
