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The acquisition of the 710MW solar PV portfolio was first announced in June 2023. Image: OMV Petrom.
Romanian oil and gas producer OMV Petrom has completed the acquisition of a 710MW PV portfolio from Danish developer Jantzen Renewables in Romania.
The portfolio of projects is to be developed in the southern county of Teleorman and are in a “ready-to-build” stage. The selection of Teleorman to develop the solar PV projects is due to the region holding a higher solar yield, according to OMV Petrom. The transaction was first unveiled in June 2023.
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The projects have already been granted grid access and are expected to be operational in the second half of 2026.
Franck Neel, member of the OMV Petrom Executive Board, said: “This acquisition marks a key step forward in OMV Petrom’s firm commitment to develop a portfolio of around 2.5GW of installed renewable energy capacity by 2030, capitalizing on strategic partnerships.”
Simtel, Monsson partner to build 150MW solar PV and energy storage in Romania
In related Romanian news, engineering and technology company Simtel has signed a strategic partnership agreement with renewables developer Monsson to develop, construct and sell 150MW of solar PV and/or hybrid projects in Romania.
The partnership will also focus on the development of energy storage with a capacity of up to 120MWh. Financing of the portfolio will be carried out through the companies’ own financial resources, bank financing and other funding sources, such as green bonds and European funds.
Depending on market demands and development opportunities, the project portfolio can be either carried out in full or in phases. This approach will allow the companies to respond quickly to changes in the energy sector and adapt technical solutions to new challenges.
“This partnership complements the strategy we have defined for the 2025–2030 period, during which we are committed to implementing 500MWp of green energy production capacity and expanding energy storage infrastructure by 300MWh,” said Ana Nedea, director of strategy and business development at Simtel.
Solar PV interest in Romania has been on the rise in the past few years and is expected to add up to 8.7GW of capacity between 2024-2027, according to trade association SolarPower Europe.
In a move to continue the growth of solar PV in the country, Romania’s Ministry of Energy has recently approved a Contracts for Difference (CfD) scheme that aims to attract 2.5GW of solar PV between 2024 and 2025. The first round of the CfD will be launched this year, seeking 500MW of solar PV, while the second round will be launched in 2025, looking to tender 2GW of PV.
PV Tech publisher Solar Media will be organising the fourth edition of Large Scale Solar Central and Eastern Europe in Warsaw, Poland 26-27 November 2024. The event will focus on Eastern Europe with a packed programme of panels, presentations and fireside chats from industry leaders responsible for the build out of solar and storage projects in Poland, Bulgaria, Romania, Greece and Hungary. For more information visit the event website.
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
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https://www.pv-tech.org/omv-petrom-completes-710mw-romanian-solar-pv-portfolio-acquisition/
