Execution of OMV Petrom’s first large photovoltaic project begins
- The company awarded the EPCC contract for the photovoltaic power plant in Ișalnița, with a capacity of approximately 89 MWp
OMV Petrom, the largest integrated energy producer in Southeastern Europe, signed an EPCC – Engineering & Design, Procurement, Execution & Commissioning – type contract for the Ișalnița solar project. The contract includes the construction of the photovoltaic park, the 110 kV power station for connection to the grid, as well as the operation and maintenance for a period of 2 years from commissioning.
The contract was awarded to the association of Romanian companies Actual Connect S.R.L., Global Technical Systems S.A., Bit Invest S.R.L. and Alpin Sun S.R.L. following a competitive selection process. The association of companies accumulates an experience of over 700 MW installed in photovoltaic systems in countries such as Belgium, the Netherlands, Germany, Austria, Hungary and Romania.
Franck Neel, OMV Petrom Executive Board Member responsible for Gas & Power: "The signing of this contract marks a significant moment for our company, the start of the actual construction of the first large photovoltaic project fully developed by OMV Petrom. This project underlines our commitment to the renewable energy sector and demonstrates our ability to be leaders in the energy transition in Romania."
The Ișalnița photovoltaic project, for which the final investment decision was taken in June of this year, is the first large-scale photovoltaic project fully developed by OMV Petrom. The park will have an installed capacity of approximately 89 MWp and is located in Ișalnița commune, Dolj county. The estimated annual production will be approximately 130 GWh.
The next step in this project is the start of construction, with completion and commissioning expected to take place in the first half of 2026.
This project supports OMV Petrom's goal of having a portfolio of 2.5 GW of renewable energy projects, together with partners. The Ișalnița photovoltaic power plant can develop strong synergies with other projects already in the portfolio, strengthening the security of electricity supply from renewable sources.
Also, as part of the call for projects within Romania's National Recovery and Resilience Plan (PNRR), OMV Petrom has submitted a project to build a Battery Energy Storage System with a storage capacity of 36 MWh and a power injection into the grid of 18 MW. If successful, the system is to be installed within the Ișalnița park.
About OMV Petrom
OMV Petrom is the largest integrated energy producer in Southeastern Europe, with an annual Group hydrocarbon production of approximately 41 million boe in 2023. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency gas-fired power plant. The Group is present on the oil products retail market in Romania and neighbouring countries through approximately 780 filling stations under two brands – OMV and Petrom.
OMV Petrom is a company in which, as of end-2023, Romanian shareholders hold over 43% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 22.5% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 5.6% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange.
OMV Petrom is one of the largest contributors to the state budget, with approximately 42 billion euro in taxes and dividends paid between 2005 and 2023. During the same period, the company invested approximately 18 billion euro.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2023, the company has allocated around 160 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.
On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change. OMV Petrom annually reports on the progress made in implementing these recommendations.