OMV Petrom signed agreement to purchase photovoltaic parks with installed power of 710 MW in Romania

OMV Petrom signed an agreement for the purchase of several projects for the construction of photovoltaic parks in Teleorman county. The projects are being developed by the Danish developer Jantzen Renewables ApS.

The completion of the transaction is estimated for the second quarter of the next year, when the projects will reach the “ready-to-build” phase. The installed power of these photovoltaic parks will be around 710 MW. The parks will be one of Southeast Europe’s most significant photovoltaic projects, powering the equivalent consumption of 280,000 Romanian households annually.

Franck Neel, member of the OMV Petrom Executive Board, responsible for the Gas and Power activity: „This purchase supports the achievement of OMV Petrom’s strategic objective of having an installed renewables capacity of at least 1 GW by 2030, including through partnerships. In addition, it allows us to adequately respond to the ever-increasing demand for green energy, contributing at the same time to the strengthening of Romania’s security of supply and energy resilience.”

Christian Jantzen, Co-founder & CEO of Jantzen Renewables: „The photovoltaic parks represent a great leap forward, and it further helps pave the way for a greener future for Romania. We are proud to develop one of Southeast Europe’s most significant photovoltaic projects. We have a solid commitment to Romanian renewables; these photovoltaic parks and our strong pipeline bears witness hereof.”

The photovoltaic parks will be built in Teleorman county. The locations chosen for the PV parks have the potential for strong yields in terms of solar energy. Thus, the estimated production for 25 years of operations is 23,900 GWh, enough to power the equivalent of 280,000 Romanian households annually consumption. The projects have already been granted access to the national electricity transmission network.