OMV Petrom, CE Oltenia Partner for 450 MW Solar Project in Romania

The state-owned utility Complexul Energetic Oltenia (CE Oltenia) and the Romanian oil corporation OMV Petrom will construct 450 MW of solar PV in the country.

According to OMV Petrom, a total of over €400 million (US$390 million) will be spent on the installation of four solar parks- nearly triple the installed solar capacity in Romania. In December 2021, CE Oltenia chose the organisation to serve as the project’s investor.

The announcement states that by 2024, the solar projects with OMV Petrom are expected to be completed in Işalnița, Tismana, Roşia, and Rovinari. The two partners promised to purchase the electricity.

OMV Petrom wants to reach 1 GW of solar power capacity by 2030, including through collaborations. OMV of Austria owns 51% of the subsidiary, and the Ministry of Energy of Romania retains the remaining 20.6%.

The Modernization Fund of the European Union, which was established to assist ten eastern member nations in achieving their 2030 renewable energy commitments, will provide almost 70% of the funding for the 450MW solar PV parks.

The largest generator of coal-based energy in Romania, CE Oltenia, will run the solar plants on old mine sites in Transylvania (three of the projects) and Oltenia. The businesses anticipate that the solar PV projects will start supplying electricity in 2024.

“Our goal is to put in function more than 1 GW of renewable generating capacity by 2030, including through partnerships,” said Franck Neel, member of the OMV Petrom executive board and in charge of gas and power.

Although Energy Minister Virgil Popescu has stated that the current energy crisis could delay the deadlines, Romania had intended to rebuild CE Oltenia by 2026 and replace its outdated capacity with solar electricity and gas.

Recently, German company WPD developed two offshore wind farms in the Black Sea off the Romanian coast. The total proposed capacity of the projects is 1.9GW.