OMV Petrom, a key player in the energy sector, is set to significantly bolster its renewable energy portfolio with two strategic acquisitions. The company is purchasing a 50% stake in Electrocentrale Borzesti from RNV Infrastructure. This acquisition includes roughly 1 GW of renewable energy projects, comprising 950 MW from wind energy and 50 MW from photovoltaic sources. OMV Petrom will collaborate with RNV Infrastructure to develop, construct, and operate these projects.
Additionally, OMV Petrom is set to take full ownership of Renovatio Asset Management, which boasts Romania's most extensive electric vehicle (EV) charging network. Renovatio currently operates over 400 EV charging stations across Romania, with plans to expand the network to around 650 stations by 2026.
OMV Petrom and Renovatio are committing approximately EUR 1.3 billion to renewable energy investments in Romania by 2027, including project financing. OMV Petrom’s investment in these acquisitions and the construction of the projects is projected to be around EUR 350 million.
The finalization of these transactions is anticipated in the first half of 2024, pending the satisfaction of specific conditions, as announced by the energy company.
Through the acquisition of a 50% stake in the largest wind power portfolio in Romania, OMV Petrom is extending its renewable energy footprint, which currently includes a 1 GW photovoltaic project portfolio. The development includes four wind parks and a photovoltaic park in northeastern Romania. According to projections, these parks will start supplying electricity to the national grid in 2024, with wind park production expected to progressively commence from 2025 to 2027. Access to the electricity network for these projects has already been secured.
With the full acquisition of Renovatio Asset Management, OMV Petrom is set to become the leading force in Romania's e-mobility sector. This move will add more than 400 charging points to its existing network, which had about 270 charging points by the end of 2023, including those established through partnerships.