Announced in June 2025, the transaction marks a significant step in OMV Petrom’s regional expansion and in strengthening its renewable energy portfolio.
„Located in Gabare, Byala Slatina region, the project has an estimated capacity of 400 MW leading to a 0.6 TWh estimated annual production, making it one of the largest solar developments in Bulgaria. It will be equipped with solar trackers to maximize energy production,” reads the company’s report.
As part of the investment framework, OMV Petrom and the project company will enter into a long-term PPA, through which OMV Petrom will acquire 50% of the future electricity output of the solar park. In addition, the partners are considering the development of a battery energy storage system with a capacity of up to 600 MWh to support grid flexibility and stability.
“We are expanding our regional footprint and contributing to the energy transition through investments in large-scale solar projects. The partnership with Enery reflects our commitment to a more sustainable future,” said Franck Neel, Member of the Executive Board of OMV Petrom responsible for the Gas & Power activity.
Through this partnership, OMV Petrom and Enery plan to invest approximately EUR 200 million by 2027, including external financing.
Final investment decision is scheduled to be taken in Q1 2026, with start of commercial operation being estimated for 2027.
OMV Petrom operates a network of 93 filling stations in Bulgaria and, since 2024, supplies natural gas to non-household customers through its local subsidiary.
The company posted RON2.08 billion net profit in H1/2025, down 21% from the year-earlier period. Its shares have added 20% in the past year, amid a RON54 billion capitalization.
(English version by Catalina Apostoiu)