CE Oltenia is modernizing and making the transition from coal to green energy, announced Sebastian Burduja, the Minister of Energy, who signed the financing contracts for eight photovoltaic park projects of CEO on Monday. The solar parks will be built with both OMV Petrom and Tinmar, strategic investments supported by 70% of the Modernization Fund.

“We started the week strong and signed today the financing contracts for 8 photovoltaic parks, strategic investments supported by 70% of the Modernization Fund. Hundreds of millions of euros for Romania’s green transition. Romania will have access to more clean energy for all Romanians in the coming years. And fast. We have chances that by the end of next year we will put into operation capacities of 735 MW of installed power,” said Burduja.

“CEO Oltenia is modernizing and making the transition from coal to green energy. Partnerships with OMV Petrom and Tinmar involve a 50% participation by CEO Oltenia, which will benefit from new sources of income and train current employees to implement and operate these investment projects (and more). We are accelerating the absorption of European funds available through the Modernization Fund. I declared as priority objective for my mandate the increase in the pace of accessing the billions of euros that Romania has at its disposal for the modernization of the national energy system. I follow the progress personally, every day, together with the technical team. We will continue to accelerate the pace,” the minister also said.

Photovoltaic parks will be built in Işalniţa, Tismana, Roșia, Rovinari, Turceni, as well as on the Pinoasa and Bohorelu landfills. In the next period, procurement procedures will be launched for the contracting of engineering, construction and commissioning services for the new capacities.

The joint-stock companies resulting from the association CE Oltenia – Tinmar Energy will have as their object the implementation of four photovoltaic parks with a total installed power of about 280 MW and a natural gas group of 475 MW in Turceni.

OMV Petrom and CE Oltenia sign the financing contracts for the 450 MW solar parks

OMV Petrom, the largest integrated energy company in Southeast Europe, announces the signing of financing contracts for the development of four photovoltaic parks with a cumulative capacity of about 450 MW in collaboration with CE Oltenia. The financing contracts were signed by the Ministry of Energy, as the contracting authority, and by the representatives of the four legal entities that are the beneficiaries of this financing and, at the same time, are responsible for the implementation of the projects. Within these entities, OMV Petrom and CE Oltenia are equal partners, each holding a 50% stake.

“By signing the financing contracts we have taken another important step, which will allow the project team to focus on the construction phase of the four photovoltaic parks. OMV Petrom’s objective is to become, by 2030, a major producer of renewable energy and supplier of green electricity to our customers, installing production capacities, including through partnerships,” said Franck Neel, member of the OMV Petrom Board responsible for Gas and Energy activity.

In December 2021, OMV Petrom was designated as the selected investor for these projects, at the end of a selection procedure organized by CE Oltenia. The total investments required for the development of the four photovoltaic parks amount to over 400 million euro, 70% being financed through the Modernization Fund.

In the next period, the documentation necessary for the tender for the contracting of the engineering, construction and commissioning services of the photovoltaic parks will be released. The start of the works will begin after the winner of this tender is designated.

According to current estimates, photovoltaic parks should supply electricity to the national system in 2025.