OMV Petrom signed an agreement for the purchase of several projects for the construction of photovoltaic parks in Teleorman County, with an installed power of approximately 710 MW.

The projects are being developed by the Danish company Jantzen Renewables, and the completion of the transaction is estimated for the second quarter of next year, when the projects will reach the “ready-to-build” stage.

According to the cited source, the photovoltaic parks will be among the most significant projects of this type in South-Eastern Europe, being able to supply the equivalent of the annual consumption of around 280,000 households in Romania.

“This acquisition supports the achievement of OMV Petrom’s strategic objective of having an installed renewable energy capacity of at least 1 GW by 2030, including through partnerships. In addition, it allows us to adequately respond to the increasingly big for green energy, contributing at the same time to the consolidation of the security of supply and the energy resilience of Romania,” said Franck Neel, member of the OMV Petrom Directorate, responsible for the Gas and Energy activity.

The photovoltaic parks will be built in Teleorman county, and the locations chosen for them have the potential for higher yields, in terms of solar energy.