The financing contracts were signed by the Energy Ministry, as contracting authority, and by the representatives of the four legal entities, beneficiaries of this financing and responsible for implementing the projects. Within these entities, OMV Petrom and CE Oltenia are equal partners, holding 50% each.
“With the signing of the financing contracts we took another big step, which will allow the team to focus on the construction phase of the four photovoltaic parks. OMV Petrom’s goal is to become an important player in renewable energy and supplier of green electricity for our customers, by installing production capacities, including via partnerships, by 2030,” said Franck Neel, member of the OMV Petrom Executive Board, responsible for Gas and Power.
In December 2021, OMV Petrom was designated the selected investor for these projects, at the end of a selection procedure organized by CE Oltenia. The total investments needed for the development of the four photovoltaic parks amount to more than EUR400 million, 70% funded through the Modernization Fund.
According to current estimates, the PV parks should supply electricity to the national energy system in 2025.
(English version by Loredana Fratila-Cristescu)