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OMV Petrom signed European funds contract for the development of a network of ultra-fast recharging points for electric cars in the region

  • The total investment is estimated at around EUR 40 million for more than 400 recharging points
  • The recharging points will be installed in Romania (328), Slovakia (52) and Hungary (28)
  • More than EUR 15 million of the total investment value will be financed by the European Union

July 27, 2023 | OMV Petrom, the largest integrated energy company in South-East Europe, contributes to the development of the regional network of ultra-fast recharging for electric cars as part of a project that aims to install more than 400 points along the Trans-European Transport Network (TEN-T). These will be installed in Romania, Slovakia and Hungary until November 2025.

The group of companies formed by OMV Petrom Marketing (OPM), OMV Hungária Ásványolj Kft/ OMV Hungária Kft. (OMV HU) and OMV Slovensko s.r.o (OMV SK) have received approval for a European funding contract with the European Executive Agency for Climate, Infrastructure and the Environment (CINEA) for the project "Accelerate the Central and East European Ultra-Fast Charging", with the support of the Ministry of Transport and the Ministry of Investments and European Projects.  

The financing contract was signed by CINEA and OPM, as coordinator of the application, each of the companies implementing the project in their respective countries.

The total investment in this project is estimated at approximately EUR 40 million, of which, approximately EUR 15 million are provided from European funds, through the Connecting Europe Facility (CEF), almost EUR 5 million of the total amount represent bank credit from the Banca Comercială Română, the rest of the financing being provided from own sources.

Christina Verchere, CEO of OMV Petrom: "Through the 2030 Strategy, we have undertaken to actively contribute to the energy transition, in Romania and in the region. We have started to develop solutions with low emissions and zero carbon, for which we propose to allocate about 35% of the estimated investments until 2030 of about EUR 11 billion. The development of these solutions opens opportunities for economic growth in Romania and in the region, by attracting European funds".

Radu Căprău, member of the OMV Petrom Executive Board, responsible for the Refining and Marketing activity: "We are supporting our customers in the process of decarbonizing the transportation and we want to offer them as many mobility options as possible, including by developing the necessary infrastructure for alternative mobility. In the last three years we have installed recharging points largely through partnerships. Today, we have taken an important step in the development of our own network of electric recharging stations thus contributing to connect the Eastern Europe through the TEN-T corridor.”

Richard Ferrer, Head of Alternative Fuels at the at the European Climate, Infrastructure and Environment Executive Agency (CINEA): “This project will further support the transition towards a decarbonised mobility across Europe. It will benefit citizens and economic operators providing for a seamless and interconnected network for electric vehicles. In doing so, it will contribute to achieving European Green Deal objectives.”

The project aims to install more than 400 ultra-fast recharging points, each with an installed power of 150 kW, by the end of 2025. Of these, 328 will be installed in 80 locations in Romania, 52 of recharging points will be installed in 11 locations in Slovakia, and 28 points will be installed in 7 locations in Hungary. All stations will allow ultra-fast recharging of electric cars, i.e. charging in approximately 10-15 minutes, depending on the capacity of the vehicles, for an operating range of 200 km.

At the end of 2022, OMV Petrom announced that will become the first energy company in the region with a network of power stations in four countries in South-East Europe, developed together with partners in the electric mobility sector. At the end of June, OMV Petrom had 150 recharging points in Petrom and OMV branded filling stations in Romania and in the region.

About OMV Petrom  

OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 43 million boe in 2022. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through approximately 780 filling stations under two brands – OMV and Petrom.

OMV Petrom is a company in which Romanian shareholders hold over 42% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 21.7% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 6.4% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange and the London Stock.

OMV Petrom is the largest contributor to the state budget, with approximately 39 billion euro in taxes and dividends paid between 2005 and 2022. During the same period, the company invested approximately 17 billion euro. In 2022, the taxes paid by OMV Petrom ensured 7% of Romania's tax revenues.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2022, the company has allocated around 120 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.

On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change. OMV Petrom annually reports on the progress made in implementing these recommendations.