OMV Petrom has taken a final investment decision (FID) for the Gabare solar project in Bulgaria, moving the development toward construction. The planned facility is a hybrid installation combining solar generation with battery storage in the Vratsa region. OMV Petrom said the decision paves the way for building a 415 MW solar power plant with battery storage.
Dunav Solar Plant joint venture and site details
The project will be developed through Dunav Solar Plant, a joint venture between OMV Petrom and Austrian renewable energy company Enery. The site is located near Byala Slatina in northwestern Bulgaria. In addition to solar capacity, the project includes a battery energy storage system (BESS) of around 600 MWh.
Investment scale and expected commissioning timeline
Total investment for the Gabare project is estimated at approximately €300 million. OMV Petrom said around €100 million of that amount is allocated to the battery storage component. The partners expect electricity production to begin in 2028, subject to completion of construction and commissioning.
Permits, EPC contracting and financing structure
OMV Petrom stated that all major permits have already been secured for the project. With permitting in place, the development is ready to enter the construction phase. On-site works are expected to start after selection and awarding of the engineering, procurement and construction (EPC) contract.
The project financing will combine shareholder contributions with external financing. OMV Petrom also confirmed that a long-term power purchase agreement (PPA) has been signed for around 50% of the expected electricity output. The company said this provides early revenue visibility for the development.
The Gabare project is described by OMV Petrom as one of the largest renewable energy investments in Bulgaria. It also represents an expansion of OMV Petrom’s renewable energy portfolio across South East Europe, aligned with growth in solar and storage markets in the region.
