OMV Petrom and CE Oltenia are investing about 400 million euro in the development of four photovoltaic parks with a cumulative capacity of about 450 MW. By putting the four parks into operation, Romania’s installed solar power increases by about 30%.
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, about 70% being financed through the Modernization Fund.
“We set out to put into operation a capacity greater than 1 GW of energy from renewable sources by 2030, including through partnerships. By associating with CE Oltenia we are making significant progress towards this goal and together we are contributing to Romania’s energy transition. The installed power of the four photovoltaic parks will increase by a third the total installed power at the national level of solar energy, which is currently approximately 1.4 GW,” says Franck Neel, member of the OMV Petrom Directorate, responsible for the activity of Gases and Energy.
“CE Oltenia – the largest coal-based energy producer in Romania, must adapt its development strategy to the new trends and requirements aimed at decarbonizing the energy system and diversifying Romania’s energy mix by replacing lignite-based units with power plants gas base and renewable energy projects, in order to keep the National Energy System (SEN) safe. The implementation in partnership with OMV Petrom of the four photovoltaic parks represents an important objective for the company, both in terms of the contribution to Romania’s energy transition, and for the implementation of the measures from the Restructuring Plan approved by the European Commission,” adds Daniel Burlan, president of the EC Oltenia Directorate.
The photovoltaic parks will be built in Ișalnița, Tismana, Roșia and Rovinari, on the sites of former mining operations operated by CE Oltenia.
According to current estimates, the parks will supply electricity to the national energy system starting in 2024.
The project will be developed through four separate legal entities in a 50% – 50% participation structure. The intention is for the electricity produced to be sold by these entities to the two partners, in equal proportion.