Romania's OMV Petrom completes 4.6 GWh PV park

• Romania's top oil and gas team OMV Petrom [BSE: SNP] claimed on Thursday it has completed a 4,600 MWh photovoltaic or pv park in Icoana, Olt county, which will supply green power for its very own procedures.

The park consists of virtually 1,000 solar panels installed on a location of 5,500 sq m, equal to the size of a football area, OMV Petrom stated in a press release.

It will produce more than 4,600 MWh of green electricity throughout their entire life cycle, estimated at 13 years. By changing the traditional electricity source, the carbon dioxide discharges will be lowered by greater than 1,200 tonnes throughout the whole life cycle of the panels, OMV Petrom additionally said.

"This project is a first for us and also is part of the energy efficiency program, whereby we aim to decrease our environmental effect. We will continue creating such projects that support our objective of decarbonising operations," OMV Petrom exec board member, in charge of exploration and also manufacturing Chris Veit said.

Since 2010, OMV Petrom has invested around 72 million euro ($79 million) in establishing projects that supply electricity or electrical and also thermal power for manufacturing tasks. Currently, 65% of the electrical energy requirements of exploration as well as production tasks is created inside. The medium-term goal is that the whole electrical power requires to be specifically provided from inner sources.

OMV Petrom is the biggest incorporated power company in Southeast Europe, with a yearly group hydrocarbon manufacturing of approximately 47 million boe in 2021. The team has a refining capability of 4.5 million tonnes each year and also runs an 860 MW high-efficiency nuclear power plant. OMV Petrom is present on the oil items retail market in Romania and neighbouring countries with greater than 780 filling up stations, under two brands-- OMV as well as Petrom.

Austria's OMV Aktiengesellschaft holds a 51.011% stake in OMV Petrom. The Romanian economic climate ministry possesses 20.639% and 28.35% is free float on the Bucharest bourse and also the London Stock Exchange.

Shares in blue-chip OMV Petrom traded 0.43% greater at 0.4720 lei ($0.11/ 0.10 euro) by 0907 CET on the BVB on Thursday.