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Romanian giant buys 50% of 1GW portfolio

RICHARD HEAP

January 4, 2024

Romanian oil giant OMV Petrom has agreed to buy a 50% stake in a 1GW portfolio of renewables projects, mostly wind farms, in its home country.

The company has agreed to buy a stake in Electrocentrale Borzesti, which has 950MW of development-stage wind projects and 50MW of development-stage solar projects, from RNV Infrastructure. The deal is due to close in the first half of 2024.

OMV Petrom has also agreed to buy electric vehicle charging network operator Renovatio Asset Management.

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