OMV Petrom Expands with Bulgarian Solar Stake Acquisition

• OMV Petrom expands into renewables with a 50% stake in Bulgaria's Gabare solar project, boosting green energy and grid flexibility with a 600 MWh storage system.

OMV Petrom, a Romanian oil and gas group, has acquired a 50% stake in a 400-MW solar project in Bulgaria, developed by Austria's Enery Development GmbH. The Gabare solar project, located near Sofia, is set to begin operations in 2027, generating approximately 0.6 TWh of electricity annually. This acquisition marks OMV Petrom's expansion in the region and enhancement of its renewable energy portfolio.

The partnership includes plans to develop a battery energy storage system with a capacity of up to 600 MWh to support grid flexibility. OMV Petrom and Enery aim to invest around EUR 200 million by 2027, with a final investment decision expected in early 2026.

What are the key details of OMV Petrom's solar project acquisition in Bulgaria?

• OMV Petrom has acquired a 50% stake in the Gabare solar project in Bulgaria.
  
• The project is developed by Austria's Enery Development GmbH.
  
• It is a 400-MW solar project located near Sofia, Bulgaria.
  
• Operations are expected to commence in 2027.
  
• The project is anticipated to generate approximately 0.6 TWh of electricity annually.
  
• A battery energy storage system with a capacity of up to 600 MWh is planned to support grid flexibility.
  
• OMV Petrom and Enery plan to invest around EUR 200 million by 2027.
• A final investment decision is expected in early 2026.
• This acquisition is part of OMV Petrom's strategy to expand its presence in the region.
• The project enhances OMV Petrom's renewable energy portfolio.