OMV Petrom Acquires 50% Stake in Renewables Portfolio and Expands Wind and Hydropower Assets

Credit: OMV Petrom

Romanian oil company has finalized the 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 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 stations from Renovatio Group. Located in northwestern , 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.”

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