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Photovoltaic parks - Parc Verde

Four photovoltaic parks will be developed in Romania by OMV Petrom & CE Oltenia.

Companies can now sign up for the bidding of engineering, construction, and commissioning services for the 4 photovoltaic parks, with a total capacity of ~450 MW, being built by OMV Petrom and Oltenia Energy Complex.

  • The registration is done directly in the SEAP system, via this link.

About the project

OMV Petrom and the Oltenia Energy Complex will build four photovoltaic parks, in Ișalnița, Tismana and Rovinari, with a total capacity of approximately 450 MW. The financing contracts for their development have been signed by the Ministry of Energy as the contracting authority and representatives of the four legal entities responsible for implementing the projects. Within these entities, OMV Petrom and CE Oltenia are equal partners, each holding a 50% stake.

The total investments required for developing the four photovoltaic parks amount to over 400 million euros, with 70% of the funding coming from the Modernization Fund. The parks are expected to supply electricity to the national system in the year 2025.

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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 Exchange.

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.