CMS advised DRI on physical power purchase agreements with OMV Petrom

CMS has advised DRI, the EU renewables arm of Ukrainian private energy company DTEK, on the physical power purchase agreements (PPA) signed with OMV Petrom, for three solar projects. This is Romania’s largest-ever PPA transaction to date and it is based on the EFET (European Federation of Energy Traders) template contract adapted for the Romanian legal and regulatory framework, a project CMS also advised on at the time.

Under the terms of the transaction, the delivery of electricity will commence in January 2026, with OMV Petrom set to acquire 62% of the electricity generated by DRI’s Glodeni I and Glodeni II solar projects; the purchase of 50% of the output from DRI’s Vacaresti solar project will commence in January 2027. The combined capacity of the projects is 239 MW.

In total, the PPAs account for approximately 100 GWh of annual electricity generation, over an 8.5-year period.

The CMS team was led by partner Varinia Radu, and included counsel Ramona Dulamea, senior consultant Filip Radu, with support from Ada Romanti (Energy).