OMV Petrom, Oltenia Award 550-MW Solar Contracts

• OMV Petrom and Oltenia drive Romania's green future with 550 MW solar parks, boosting energy security and sustainability.

OMV Petrom and Complexul Energetic Oltenia have selected contractors to build four solar parks in Romania, totaling approximately 550 MW in capacity. This initiative marks a significant step in Romania's transition towards renewable energy sources, leveraging the expertise of both a major oil and gas company and a state-run power producer.

The solar projects are part of a broader strategy to diversify energy production and reduce carbon emissions. By investing in solar power, OMV Petrom and Oltenia aim to enhance energy security and sustainability in the region, aligning with European Union goals for increased renewable energy adoption.

How will OMV Petrom and Oltenia's solar projects impact Romania's renewable energy transition?

• Increased Renewable Capacity: The addition of approximately 550 MW from these solar projects will significantly boost Romania's renewable energy capacity, contributing to the country's overall energy mix and reducing reliance on fossil fuels.
• Carbon Emission Reduction: By transitioning to solar energy, these projects will help lower carbon emissions, supporting Romania's commitment to EU climate targets and global efforts to combat climate change.
• Energy Security: The development of local solar energy resources will enhance Romania's energy security by reducing dependence on imported energy and diversifying the energy supply.
• Economic Growth and Job Creation: The construction and operation of the solar parks are expected to create jobs and stimulate economic growth in the region, providing opportunities in the renewable energy sector.
• Technological Advancement: Collaboration between OMV Petrom and Oltenia can lead to the exchange of expertise and technological advancements, fostering innovation in Romania's renewable energy industry.
• Alignment with EU Goals: These projects align with the European Union's objectives for increasing the share of renewable energy, supporting Romania's integration into the EU's energy framework.
• Long-term Sustainability: By investing in solar power, Romania is taking steps towards a more sustainable energy future, ensuring long-term environmental and economic benefits for the country.