OMV Petrom Accelerates Entry into Renewable Energies with Strategic Acquisitions

OMV Petrom, a leading company in the Romanian energy sector, has marked its foray into the renewable energy sector with two significant acquisitions. The company acquires a 50 percent stake in Electrocentrale Borzești from RNV Infrastructure, including projects with a capacity of nearly 1 GW. Additionally, assets with a capacity of 18 MW are being acquired from the Renovatio Group. These transactions, which have been approved by both the Competition Council and the Foreign Direct Investment Review Commission, align with OMV Petrom's strategy to diversify its energy portfolio. Under the leadership of OMV Petrom, there are now two wind farms in eastern Romania with a combined capacity of 16 MW, as well as a micro-hydropower plant in northwestern Romania with a capacity of 2 MW. According to Franck Neel, a board member of OMV Petrom, the company is proud to be a producer of renewable energy, as some of the acquired facilities are already feeding green power into the grid. Together with RNV Infrastructure, OMV Petrom plans to develop renewable energy projects in northeastern Romania, with the commissioning of the wind farms expected to occur gradually between 2025 and 2027. The photovoltaic plant is currently in the testing phase. Aurel Arion, CEO of Renovatio, emphasized the importance of the partnership with OMV Petrom and the confidence in the potential of the Romanian renewable energy market. This reaffirms the commitment to a more sustainable energy future.