Picture: Zbynek Burival, Unsplash
OMV Petrom, an built-in power producer, has expanded its partnership with Romanian inexperienced power firm Renovatio by buying a 50% stake in three photo voltaic initiatives totaling 130 MW.
The transaction is anticipated to be accomplished within the second half of this yr. The monetary particulars of the settlement haven’t been disclosed.
The photo voltaic initiatives, all situated in Romania, have already secured entry to the nationwide energy grid. As soon as accomplished, the initiatives will take the 2 companions’ complete joint put in capability to greater than 1.1 GW.
Earlier this yr, OMV Petrom acquired a 50% stake in Romanian power developer Electrocentrale Borzesti, which owns roughly 1 GW of renewable initiatives.
“Partnerships are crucial for accelerating the power transition,” mentioned Franck Neel, a member of the chief board of OMV Petrom. “By combining our strengths we create larger impression total and contribute to the change for a cleaner surroundings.”
In April, OMV Petrom launched an engineering, procurement and development tender for a 710 MW undertaking, which it acquired from Danish developer Jantzen Renewables in July 2023. In keeping with OMV Petrom CEO Christina Verchere, round one-third of its €11 billion ($11.8 billion) of investments might be allotted to low- and zero-carbon initiatives by 2030.
Romania had deployed 1,917 MW of photo voltaic by the tip of 2023, in response to figures from the Worldwide Renewable Vitality Company (IRENA). The nation turned on its first floating photo voltaic array earlier this month.
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