OMV Petrom S.A. announced that it will build, in partnership with Complexul Energetic Oltenia (CE Oltenia), four photovoltaic (PV) parks with a total power capacity of ~450 MW. In December 2021, OMV Petrom was designated as selected investor for these projects, following a selection procedure organized by CE Oltenia. The total investments required for the development of the four PV parks amount to over EUR 400 million, approximately 70% being financed through the Modernization Fund.

The PV parks will be built in I?alni?a, Tismana, Ro?ia and Rovinari, on the sites of the former mining operations operated by CE Oltenia. According to current estimates, the PV parks should supply electricity to the national energy system starting 2024. The project will be developed through four separate legal entities, in a 50% - 50% equity interest structure.

The intention is to sell the produced electricity by these entities to the two partners in equal shares.