OMV Petrom closes the transaction with Jantzen Renewables for the acquisition of several photovoltaic projects in Romania

• The installed power of the photovoltaic parks will be ~710 MW

OMV Petrom, the largest integrated energy producer in Southeastern Europe, closed the acquisition of several photovoltaic projects from the Danish company Jantzen Renewables ApS. The projects are to be developed in Teleorman county and are now at the "ready-to-build" stage. The installed power of these photovoltaic parks will be ~710 MW, being among the most important projects of this type and development stage in Southeastern Europe.

The transaction was approved by the Commission for the Examination of Foreign Direct Investments.

Franck Neel, member of the OMV Petrom Executive Board, responsible for Gas and Power: "This acquisition marks a key step forward in OMV Petrom's firm commitment to develop a portfolio of around 2.5 GW of installed renewable energy capacity by 2030, capitalizing on strategic partnerships. We want to meet the increase in demand for green energy and remain a reliable partner for our customers, also contributing to the security of Romania's energy supply. Our next step is to identify the right partners with whom to build these projects."

Christian Jantzen, Co-founder & CEO of Jantzen Renewables: "Today is truly a major milestone for Jantzen Renewables, for our partners and for the Romanian energy sector. We are proud to significantly contribute to a greener future in Romania. Our mission is to power the country's green energy transition, and this is a vital first step for us in achieving that vision. However, this is only the beginning, and we will continue to put significant resources into our mission in the coming years."

The photovoltaic parks will be built in Teleorman county, the locations chosen for these having the potential for superior solar yields. Thus, the estimated production for 25 years of operation is over 20,000 GWh, the annual production being enough to supply the equivalent of approximately 70% of the annual household consumption of Bucharest municipality[1]. The projects have already been granted access to the national power transmission grid. According to current estimates, the projects should start to supply power to the national power grid in the second half of 2026.

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.

About Jantzen Renewables

Established in 2020, Jantzen Renewables is a spinout from the project development company Jantzen Development. With the core team having +15 years of experience and a track record in project development in Romania, Jantzen Renewables has quickly established itself as a significant player in the renewable energy ecosystem. Currently, the company is developing a +2 GW pipeline of renewable energy assets across the country.

The company is developing assets across a range of differing technologies, such as solar PV, batteries, wind, and power-to-x. They specialize in early-stage development in Romania, both around greenfield projects and with development partners.