Agreement signed for 50% stake in 1 GW Electrocentrale Borzesti portfolio

OMV Petrom has signed on the acquisition of a 50% stake in 1GW Electrocentrale Borzesti portfolio in Romania.

By securing a 50% stake in Romania's most extensive wind power portfolio, OMV Petrom is set to construct four wind parks and a photovoltaic park in the northeastern region of the country. Anticipated to be operational in 2024, the photovoltaic park is slated to contribute electricity to the national energy grid. The wind parks are projected to commence production gradually, spanning from 2025 to 2027.

In addition to this, OMV Petrom will complete the full acquisition of Renovatio Asset Management, the entity overseeing Romania's electric vehicle (EV) charging network, boasting over 400 EV charging points, with plans for expansion to around 650 by 2026. By attaining a 100% stake in Renovatio Asset Management, OMV Petrom is poised to become the primary player in Romania's e-mobility sector, augmenting the existing network with over 400 charging points. As of the close of 2023, OMV Petrom's regional network featured approximately 270 installed charging points, facilitated through various partnerships. The conclusion of these transactions is anticipated in the first half of 2024.