OMV Petrom Expands Solar Portfolio with 130 MW Projects

• OMV Petrom expands solar portfolio in Romania, acquiring 50% stake in 130 MW projects with Renovatio. Commitment to reducing carbon footprint and investing in low carbon projects.

OMV Petrom has acquired a 50% stake in three photovoltaic projects in Romania with a total capacity of 130 MW, expanding its partnership with Renovatio. This brings the joint portfolio of the two companies to over 1.1 GW. The acquisitions are expected to be completed in the second half of 2024 and the projects have already secured access to the transmission grid.

The projects will be developed, built, and operated in collaboration with Renovatio, with the goal of reaching over 1.1 GW of joint installed capacity by 2030. OMV Petrom's CEO, Christina Verchere, highlighted the company's commitment to reducing carbon footprint and investing in low and zero carbon projects, with a significant portion of their EUR 11 billion investments by 2030 allocated to such initiatives.

What is OMV Petrom's latest acquisition in the solar industry?

• OMV Petrom has acquired a 50% stake in three photovoltaic projects in Romania with a total capacity of 130 MW
  
• The acquisition expands OMV Petrom's partnership with Renovatio
  
• The joint portfolio of the two companies now exceeds 1.1 GW
  
• The projects are expected to be completed in the second half of 2024
  
• The projects have secured access to the transmission grid
  
• OMV Petrom and Renovatio aim to reach over 1.1 GW of joint installed capacity by 2030
  
• OMV Petrom's CEO, Christina Verchere, emphasized the company's commitment to reducing carbon footprint and investing in low and zero carbon projects
• A significant portion of OMV Petrom's EUR 11 billion investments by 2030 will be allocated to such initiatives.