Romanian oil company OMV Petrom has finalized the acquisition of a 50% stake in Electrocentrale Borzesti, a domestic firm with a renewable energy portfolio of approximately 1 GW. The deal, initially agreed upon earlier this year, includes the purchase of half of Electrocentrale Borzesti's stock from RNV Infrastructure for an undisclosed amount.
This investment grants OMV Petrom access to Electrocentrale Borzesti's four wind farm projects, totaling 950 MW, as well as a 50-MW solar photovoltaic (PV) plant currently under construction and testing. The two companies will collaborate on the development and construction of the wind projects, with plans to gradually bring them online between 2025 and 2027. All projects have secured access to the electricity network, according to OMV Petrom.
In a separate transaction, also undisclosed in value, OMV Petrom has acquired two operational wind farms with a combined capacity of 18 MW, as well as two micro hydropower stations from Renovatio Group. Located in northwestern Romania, these plants have an estimated annual output of approximately 45 GWh.
Franck Neel, a member of the OMV Petrom Directorate responsible for Gas and Energy, stated, “Our strong commitment to invest in renewable energy is reflected by these transactions. We are proud to announce that OMV Petrom has become a producer of renewable energy, some of the assets that entered our portfolio being in production and with deliveries of renewable energy to the network.”
See Also
- Wind and Solar Lead Growth in U.S. Electricity Generation, New Research Shows
- TotalEnergies Moves Ahead with Spain’s Ramal Sur Hybrid Renewable Project
- Solar Dominates New U.S. Generating Capacity in July, Accounting for Two-Thirds
- OMV Petrom Ventures into Renewables with Acquisition of 1 GW Green Energy Portfolio and EV Charging Business
- OMV Petrom Expands Renewable Energy Portfolio with Acquisition of Photovoltaic Parks in Romania
