In a major push towards its 2030 renewable energy goals, Romanian integrated energy producer OMV Petrom has finalized the acquisition of a 710MW portfolio of ready-to-build solar projects from Danish developer Jantzen Renewables. The portfolio, strategically located in Teleorman County in southern Romania to capitalize on the region’s high solar yield, has already secured grid access, clearing a critical hurdle for development.
This acquisition represents a cornerstone of OMV Petrom’s strategy to build approximately 2.5GW of installed renewable capacity by the end of the decade. Franck Neel, a member of the OMV Petrom Executive Board, described the deal as a “key step forward in OMV Petrom’s firm commitment” to this goal. Once fully operational in the second half of 2026, the new solar farms are expected to supply enough clean electricity to power roughly 280,000 Romanian households.
Romania’s Accelerating Solar Transition
The OMV Petrom deal is indicative of a wider boom in Romania’s solar energy sector. According to projections from trade association SolarPower Europe, the country is poised to add an impressive 8.7GW of solar capacity between 2024 and 2027. This rapid expansion is being bolstered by supportive government policies aimed at diversifying the national energy mix and reducing dependency on fossil fuels.
To spur investment, Romania’s Ministry of Energy has approved a Contracts for Difference (CfD) scheme to underwrite 2.5GW of new solar capacity. The initiative provides long-term price stability, making investments in green energy more secure and attractive. An initial auction for 500MW is slated for later this year, with a larger 2GW round planned for 2025.
Industry Partnerships Drive Growth
Beyond large-scale acquisitions, strategic partnerships are also fueling the sector’s growth. Engineering firm Simtel has teamed up with renewables developer Monsson to develop and construct a 150MW PV and hybrid energy portfolio. A critical component of their plan includes 120MWh of energy storage facilities, which are essential for grid stability by balancing supply and demand from intermittent photovoltaic power generation.
Ana Nedea, Director of Strategy and Business Development at Simtel, noted the venture aligns with the company’s long-term vision. “This partnership complements the strategy we have defined for the 2025–2030 period, during which we are committed to implementing 500MWp of green energy production capacity and expanding energy storage infrastructure by 300MWh,” she stated. The project will be financed through a mix of company resources, bank loans, green bonds, and European Union funds, demonstrating a robust financial approach to advancing Romania’s energy transition.
Sources
- OMV Petrom Acquires 710 MW Solar Projects in Romania
- OMV Petrom closes the transaction with Jantzen Renewables for the …
- OMV Petrom closes acquisition of 710 MW PV projects from Jantzen …
- OMV Petrom Acquires 710 MW of Solar Projects in Romania from …
- OMV Petrom finalizes acquisition of 710 MW photovoltaic projects …
- OMV Petrom completes the acquisition of Jantzen Renewables’ 710 …
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- OMV Petrom closes the transaction with Jantzen Renewables for the …
- OMV Petrom completes 710MW Romanian PV portfolio acquisition
