Romanian oil company OMV Petrom has completed the acquisition of a 50% stake in Electrocentrale Borzesti, a company with a renewables portfolio of approximately 1 GW. This marks a significant move into the renewable energy sector for OMV Petrom, as it also announced an additional purchase of wind and hydropower assets.
As part of the initial transaction, finalized earlier this year, OMV Petrom purchased half of Electrocentrale Borzesti’s shares from RNV Infrastructure for an undisclosed amount. This investment grants OMV Petrom access to four wind farm projects totaling 950 MW and a 50-MW solar photovoltaic (PV) plant that is currently under construction and testing.
OMV Petrom and RNV Infrastructure plan to jointly develop and build the wind projects, with expectations to gradually bring them online between 2025 and 2027. These facilities will be situated in northeastern Romania. The company has confirmed that electricity network access has been secured for all projects involved.
In a second, undisclosed deal, OMV Petrom acquired two operational wind farms, with capacities of 16 MW and 2 MW, along with micro hydropower stations from Renovatio Group. Located in northwestern Romania, these plants have a combined annual output of approximately 45 GWh.
Franck Neel, a member of the OMV Petrom Directorate responsible for Gas and Energy, expressed the company’s commitment to renewable energy: “We are proud to announce that OMV Petrom has become a producer of renewable energy, with some assets already in production and delivering renewable energy to the network.”
This strategic expansion into renewable energy underscores OMV Petrom’s dedication to investing in sustainable energy solutions as it diversifies its portfolio and contributes to the growing renewable sector in Romania.
