OMV Petrom S.A. (BVB:SNP) agreed to acquire 50% stake in Electrocentrale Borzesti S.R.L. from Renovatio Group Limited on January 2, 2024. Furthermore, 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. Through this newly formed partnership, OMV Petrom together with Renovatio plan to invest by 2027 approximately ?1.3 bn, including project financing, in renewables in Romania.

OMV Petrom?s contribution for the acquisition and construction of these projects is estimated to be up to ?350 mn. The closing of the transaction is expected to take place in the first half of 2024, after fulfilment of certain conditions.