Schoenherr has advised Renovatio on the sale of renewable energy production assets totaling approximately 18 MW to OMV Petrom. The operational assets include two wind farms in Eastern Romania with a combined capacity of 16 MW and a 2 MW micro-hydro power plant in Northwestern Romania, with an estimated annual production of around 45 GWh. This transaction was finalized in October 2024, coinciding with Renovatio’s previously announced sale of 50% of its shares in Electrocentrale Borzești, which owns renewable energy projects with a capacity of about 1,000 MW.
OMV Petrom will develop, build, and operate the wind projects in partnership with Renovatio, while the photovoltaic project is currently undergoing production tests. Schoenherr collaborated with Mihaela Aliman Law Office as co-counsel in advising Renovatio on both transactions.
Monica Cojocaru, a partner at Schoenherr who led the advisory team, stated, “We are proud to have worked alongside Renovatio in advancing their commitment to sustainable energy through these transactions. The partnership between Renovatio and OMV Petrom will significantly accelerate Romania’s energy transition.”
Renovatio is a seasoned infrastructure asset owner, manager, and developer in the renewable energy sector, boasting over 20 years of experience across the entire value chain of renewable projects. The company has successfully developed more than 3,000 MW of wind and over 800 MW of photovoltaic projects in Romania and other emerging markets.
OMV Petrom is Southeast Europe’s largest integrated energy company, with an annual crude oil and gas production of approximately 43 million barrels of oil equivalent (boe) in 2022. The company has a refining capacity of 4.5 million tonnes per year and operates an 860 MW high-efficiency power plant. In the retail market, OMV Petrom is present in Romania and neighboring countries through around 780 petrol stations under the OMV and Petrom brands.
