OMV Petrom
Contact
OMV Group Websites
en ro
Logout
Search
OMV Group Websites
OMV and OMV Petrom Websites
OMV Group www.omv.com OMV Romania www.omv.ro Petrom Romania www.petrom.ro Petrom Moldova www.petrom.md
Close
Published October 10, 2024

OMV Petrom closes two renewable power deals with Renovatio

  • Projects with a capacity of approximately 1,000 MW will be developed together with Renovatio; one of the projects is built and in production testing 
  • Operational assets with a capacity of 18 MW entered the OMV Petrom portfolio

OMV Petrom, the largest integrated energy producer in Southeastern Europe, completed the acquisition of 50% of the shares of Electrocentrale Borzești from RNV Infrastructure. The latter owns renewable energy projects with a capacity of approximately 1,000 MW, comprising of 950 MW of wind power and 50 MW of photovoltaic capacity. The acquisition was announced earlier this year. The wind projects will be developed, built, and operated in partnership with RNV Infrastructure. The photovoltaic project is in production tests. 

In addition, in another transaction with Renovatio Group, OMV Petrom acquired renewable energy production assets with a capacity of approximately 18 MW, comprising of 16 MW of wind power and 2 MW of hydroelectric power. The assets are operated by OMV Petrom. 

Both transactions were approved by the Competition Council and the Commission for the Examination of Foreign Direct Investments. 

Franck Neel, OMV Petrom Executive Board Member responsible for Gas and Power: "Our strong commitment to invest in renewable energy is reflected by these transactions. We are proud to announce that OMV Petrom became a producer of renewable energy, as some of the assets that entered our portfolio are already producing and delivering renewable energy to the grid.” 

Aurel Arion, CEO of Renovatio: "We are pleased to announce the completion of our partnership with OMV Petrom. Our partnership reflects confidence in the potential of the Romanian renewable energy market and reconfirms our commitment to contribute to a more sustainable energy future." 

The projects that will be developed in partnership with RNV Infrastructure are located in the north-eastern area of ​​Romania. The photovoltaic farm is in the testing period, while the wind farms are expected to gradually start production between 2025 and 2027. The annual production share of OMV Petrom is estimated at approximately 1.4 TWh.  

The operational assets include two wind farms located in eastern Romania, with a total installed capacity of 16 MW, and a micro-hydro power plant, with a capacity of 2 MW, in northwestern Romania. The estimated cumulative annual production is approximately 45 GWh. 

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 Renovatio 

RENOVATIO operates through several business lines, effectively integrating the development, construction, and operation of renewable energy projects with the long-term supply of green energy to customers. 

For more than 20 years, dedication to innovation, expertise and customer satisfaction has set Renovatio apart in the industry, making it a reliable partner for all energy-related needs. 

Detailed information about Renovatio and its activities can be found at rnvgroup.com.