OMV Petrom will acquire a 50 per cent stake in Electrocentrale Borzesti from RNV Infrastructure. The company holds approximately 1 GW capacity of renewable projects. The project comprises 950 MW wind and 50 MW photovoltaic. The projects will be further developed, built and operated in partnership with RNV Infrastructure. Furthermore, OMV Petrom will fully acquire Renovatio Asset Management 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 approximately €1.3 billion, including project financing, in renewables in Romania by 2027. OMV Petrom’s contribution for the acquisition and construction of these projects is estimated to be up to €350 million. The closing of the transactions is expected to take place in the first half of 2024, after fulfilment of certain conditions.
Renovatio is an infrastructure asset owner, manager and development group of companies focused on the renewable energy sector. It has been Operating for more than 20 years across the entire value chain and lifecycle of renewables projects, Renovatio has built comprehensive expertise in development, engineering, procurement and operational management of wind and PV assets, and has a solid track record of successful project development (+3,000 MW of wind and +800 MW of PV projects) in Romania and other emerging markets.
