OMV Petrom (BVB: SNP), the largest integrated energy producer in South-Eastern Europe, in partnership with Complexul Energetic Oltenia (CE Oltenia), a large coal mining and power complex transitioning toward low-carbon energy production, announced the signing of design and execution contracts for four photovoltaic parks with an installed capacity of 550 MW, according to a note sent by SNP to investors. \u00a0<\/p>\n
The projects will be built on land owned by CE Oltenia in Gorj and Dolj counties. \u00a0<\/p>\n
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.<\/p>\n
“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 \u2013 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.\u00a0<\/p>\n
Two contractors have been selected to implement the projects. \u00a0<\/p>\n
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 \u2013 Rovinari, Tismana 1, and Tismana 2 \u2013 with a combined capacity of roughly 460 MW. \u00a0<\/p>\n
The fourth photovoltaic park, with a capacity of around 90 MW, will be built by Turkish company Girisim Elektrik on the site of the former CE I\u0219alni\u021ba power plant, on the slag deposit.\u00a0<\/p>\n