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February 23, 2024
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Investments of EUR 400 Million in Photovoltaic Energy Production in Romania

Two energy companies from Romania want to invest EUR 400 million in constructing photovoltaic parks.

OMV Petrom and Complexul Energetic Oltenia announced four projects totalling 400 million euros that call for constructing photovoltaic panels on the sites of several former mines that have been exploited in Romania.

In December 2021, OMV Petrom was designated as the selected investor for these projects at the end of a selection procedure organized by CE Oltenia. The total investments required for developing the four photovoltaic parks amount to over 400 million euros, about 70% being financed by the Modernization Fund.

OMV Petrom

According to a news statement from OMV Petrom, photovoltaic parks will be constructed on the grounds of old mining operations run by CE Oltenia. The parks are expected to provide electricity to the national energy system in 2024.

In December 2021, OMV Petrom was designated as a selected investor for these projects, following a selection procedure organized by CE Oltenia. The total investments required for developing the four PV parks amount to over EUR 400 million, approximately 70% being financed through the Modernization Fund.

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