OMV Petrom has completed the acquisition of a 50% stake in the Gabare solar project, developed by Enery in Bulgaria. The transaction, initially announced in June 2025, marks a significant milestone in the company’s regional expansion strategy and strengthens its renewable energy portfolio.
The solar plant, located in the Gabare area of Byala Slatina, will have an installed capacity of 400 MW and is expected to produce around 0.6 TWh annually, making it one of the largest solar projects in Bulgaria. The facility will feature solar trackers to maximize electricity generation.
As part of the investment plan, OMV Petrom will enter into a long-term power purchase agreement with the project company, securing half of the plant’s future output. The partners are also considering the installation of a large-scale battery energy storage system of up to 600 MWh to enhance grid stability and flexibility.
The collaboration with Enery anticipates total investments of approximately 200 million euros by 2027, combining company funds and external financing. The final investment decision is expected in the first quarter of 2026, with commercial operations projected to start in 2027. This project underscores OMV Petrom’s commitment to expanding its renewable energy footprint in southeastern Europe while supporting the region’s energy transition and long-term sustainability.
