OMV Petrom and CE Oltenia sign contracts to invest 400 million Euro in PV projects with total installed capacity of 550 MW

OMV Petrom, the largest integrated energy producer in South-Eastern Europe, in partnership with Complexul Energetic Oltenia (CE Oltenia), announces the signing of design and execution contracts for four photovoltaic parks.

The four projects have a total installed capacity of approximately 550 MW, higher than initially estimated capacity of 450 MW, due to contractors’ proposed solutions aiming to maximize power production. The projects will be built on land owned by CE Oltenia, in Gorj and Dolj counties.

The electricity generated will be delivered to the National Power Grid and is expected to cover the annual electricity consumption equivalent of approximately 410,000 households in Romania.

“The signing of these contracts is a firm step in strengthening our position in the renewable power sector. We have been active in power generation since 2012, from the Brazi gas-fired power plant, which can cover around 10% of Romania’s electricity production. Through our Strategy 2030, we aim to be a key player in Romania’s energy transition, with the ambitious target of developing 2.5 GW of capacity, including partnerships, from renewable sources – wind and solar. We have secured a solid project portfolio, currently in various stages of execution, which will contribute to building the energy system of the future.”, said Frank Neel, Member of the Executive Board of OMV Petrom, responsible for Gas and Power.

A consortium formed by US based Ameresco and Greece based Sunel will carry out the design and execution of three of the four photovoltaic parks – Rovinari, Tismana 1, and Tismana 2 – with a combined capacity of 460 MW.

The fourth photovoltaic park, with a capacity of 90 MW, will be built by Turkish company Girisim Elektrik, on the site of the former CE Ișalnița power plant, on the slag deposit.

The total investment for the four photovoltaic parks exceeds EUR 400 million, of which approximately 70% is financed through the Modernisation Fund. OMV Petrom and CE Oltenia are equal partners in the projects, each holding a 50% stake.