OMV Petrom S.A. has acquired a 50 % stake within the Gabare photo voltaic mission from Enery Aspect, a large-scale mission in Byala Slatina, close to Sofia, Bulgaria.
The corporate stated in a media launch that it had acquired the shares Enery held in Dunav Photo voltaic Plant EOOD, the developer of the Gabare mission.
The mission has a design capability of roughly 400 megawatts (MW) with an choice so as to add a battery power storage system. As soon as operational, the manufacturing of the photovoltaic (PV) park may cowl the annual electrical energy consumption of roughly 150,000 Bulgarian households primarily based on common consumption.
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The transaction is anticipated to shut within the second half of 2025, after the success of sure circumstances, OMV Petrom stated.
“By investing in one of many largest photovoltaic tasks in Bulgaria, we’re strengthening our presence on this neighboring market and are supporting the area’s power transition. We imagine that pure fuel and renewables complement one another and play a key position in decreasing emissions whereas making certain power stability”, Franck Neel, OMV Petrom Govt Board Member answerable for the Fuel & Energy division, stated.
“The funding framework additionally consists of the acquisition by OMV Petrom of fifty % of the electrical energy manufacturing from the mission, by means of an influence buying settlement (PPA) additional reinforcing our dedication to securing low-carbon and dependable power”, he added.
“By securing a 50 % long-term PPA with OMV Petrom as a part of the funding framework, we’re not solely making certain long-term income stability for the mission but in addition setting a benchmark for a way industrial gamers can actively take part within the power transition within the area,” Richard König, Chief Govt Officer of Enery, famous.
The Gabare photo voltaic park will function photo voltaic monitoring techniques that observe the solar’s motion to maximise electrical energy era. The event of a battery-based power storage system with a capability of as much as 600 MWh can also be being thought-about.
Building permits and grid connection have already been secured. The ultimate funding resolution is anticipated to be made by the top of 2025, with industrial operation set to start in 2027.
OMV Petrom and Enery plan to speculate roughly EUR 200 million ($232.3 million) by 2027, together with exterior financing.
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