OMV Petrom, the largest integrated energy company in Southeast Europe, has announced its plans to acquire a 50 percent stake in Electrocentrale Borzesti from RNV Infrastructure. Electrocentrale Borzesti holds approximately 1 GW capacity of renewable projects, including 950 MW of wind projects and 50 MW of photovoltaic projects. These projects will be developed, built, and operated in partnership with RNV Infrastructure.
In addition to this acquisition, OMV Petrom will fully acquire Renovatio Asset Management, the owner of Romania’s leading electric vehicle charging network. Renovatio currently operates over 400 EV charging points in Romania and has plans to increase this number to approximately 650 by 2026.
Through this partnership with Renovatio, OMV Petrom aims to invest approximately EUR 1.3 billion by 2027, including project financing, in renewable energy projects in Romania. OMV Petrom’s contribution for the acquisition and construction of these projects is estimated to be up to EUR 350 million. The transactions are expected to be completed in the first half of 2024, subject to certain conditions.
Christina Verchere, CEO of OMV Petrom, expressed her enthusiasm for the partnership with Renovatio and emphasised the company’s commitment to building a strong and diversified portfolio of renewable projects. She stated that OMV Petrom aims to maintain its leadership position in the energy field in South-Eastern Europe while transitioning towards a lower carbon future.
Aurel Arion, CEO of Renovatio, highlighted the company’s focus on a cleaner future and efficient resource usage. He expressed excitement about partnering with OMV Petrom to develop approximately 1 GW of renewable projects in Romania and continue the sustainable development of electric mobility services. Arion believes that the partnership will contribute to achieving the objectives of the European Green Deal and create a healthier environment for the industry and the community.
With the acquisition of 50 percent of the largest wind power portfolio in Romania, OMV Petrom will be involved in the construction of four wind parks and a photovoltaic park in the Northeastern region of the country. These projects are expected to supply electricity to the national energy system starting in 2024, with wind parks gradually starting production between 2025 and 2027. The projects have already been granted access to the electricity network.
By acquiring 100 percent shares in Renovatio Asset Management, OMV Petrom will become the leading player in e-mobility in Romania, adding over 400 charging points to its existing network. As of the end of 2023, OMV Petrom’s regional network had approximately 270 charging points installed, including through partnerships. This expansion of the e-mobility network aligns with the company’s efforts to contribute to the decarbonisation of transport in Romania and the region.
For more information visit www.omvpetrom.com/en
