In its pursuit of enhancing renewable energy sources by the end of the decade, OMV Petrom, the Romanian subsidiary majority-owned by Austria’s OMV, has announced its plans to purchase multiple photovoltaic parks in the domestic market. This move is aligned with the company’s objective of achieving at least 1 gigawatt (GW) of installed renewable capacity by 2030.
The forthcoming acquisition involves the collaboration of Danish firm Jantzen Renewables, which is currently developing the photovoltaic parks. The transaction is expected to be finalized in the second quarter of 2024, once the projects reach the “ready-to-build” phase, as confirmed by OMV Petrom.
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With a combined installed capacity of approximately 710 MW, these photovoltaic parks will contribute significantly to Romania’s renewable energy generation. Moreover, the electricity generated by these parks will be substantial enough to cater to the annual energy needs of approximately 280,000 households.
OMV Petrom highlighted that the projects have already secured access to the national electricity transmission network, which ensures their seamless integration into the country’s power infrastructure.
This strategic acquisition demonstrates OMV Petrom’s commitment to transitioning towards sustainable energy sources and reducing its reliance on traditional oil and gas operations. By expanding its renewable energy portfolio, the company is taking a significant step towards fulfilling its long-term environmental goals.
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As the global energy sector continues to evolve, OMV Petrom’s endeavors to embrace renewable energy highlight the growing significance of sustainable practices in the industry. Through such initiatives, companies like OMV Petrom contribute to the advancement of a greener and more environmentally conscious future.
