OMV Petrom buys 710 MW solar parks

photovoltaic plants OMW

Romania's OMV Petrom is buying several photovoltaic parks currently under development and at the project stage from the Danish company Jantzen Renewables ApS. The solar plants will have a total installed capacity of about 710 megawatts (MW) and are located in the southern Teleorman district, bordering Bulgaria.

The deal is expected to close in the second quarter of next year, when the projects will reach the "ready-to-build" stage, the company said.

The parks will be one of the most significant photovoltaic projects in South-Eastern Europe, powering the equivalent consumption of 280,000 Romanian households per year.

The locations selected for the PV parks have the potential for high yields in terms of solar energy. Thus, the expected production for 25 years of operation is 23,900 GWh. The projects now have access to the national electricity grid.

The oil and gas group, majority-controlled by Austria's OMV, aims to have at least 1 gigawatt (GW) of renewable capacity installed by 2030, including through partnerships.

"In addition, it allows us to respond adequately to the ever-increasing demand for green energy, while contributing to the strengthening of security of supply and energy sustainability of Romania," commented Frank Neal, member of the executive board of the Romanian company.

Source: www.economic.bg

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