Financing contracts signed for four photovoltaic parks to be developed by CE Oltenia and OMV Petrom

OMV Petrom and the Oltenia Energy Complex will build four photovoltaic parks with a total capacity of approximately 450 MW. The financing contracts for the development of these parks, with a combined capacity of 450 MW, 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.

In December 2021, OMV Petrom was selected as the investor for these projects following a selection process organized by CE Oltenia. 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.

In the near future, the necessary documentation will be launched for the bidding of engineering, construction, and commissioning services for the photovoltaic parks. Construction works will begin after the winner of this bidding process is designated.

The photovoltaic parks will be built in Işalniţa, Tismana, and Rovinari, and according to current estimates, they are expected to supply electricity to the national system in the year 2025.