The Romanian energy group OMV Petrom has announced that it will acquire a 50% stake in Electrocentrale Borzesti, which holds approximately 1 GW of renewable projects in Romania, from the development group RNV Infrastructure. The portfolio consists of 950 MW of wind capacity and 50 MW of solar PV capacity, currently under development in north-eastern Romania.
The projects will be further developed, built and operated in partnership with RNV Infrastructure. The solar project is expected to supply electricity to Romania’s national grid system starting in 2024, while the four wind parks are expected to gradually start production between 2025 and 2027.
In addition, OMV Petrom will fully acquire Renovatio Asset Management, the owner of Romania’s leading EV charging network, with more than 400 EV charging points in Romania and plans to increase to approximately 650 by 2026. OMV Petrom and Renovatio plan to invest approximately €1.3bn, including project financing, in renewables in Romania by 2027. The closing of the transactions is expected to take place in the first half of 2024.
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