DRI, the renewable energy subsidiary of Ukrainian energy company DTEK, has signed a significant physical solar power purchase agreement (PPA) with OMV Petrom, the largest oil and gas company in southeastern Europe. This agreement combines three separate PPAs over an 8.5-year period, covering approximately 100 GWh of electricity annually at a fixed rate. It includes both the physical sale of electricity and Guarantees of Origin, making it the largest PPA signed to date in Romania.
Starting in January 2026, OMV Petrom will purchase 62% of the electricity generated by DRI’s Glodeni I and Glodeni II solar power plants, which together have a combined capacity of 113 MW. Additionally, from January 2027, OMV Petrom will buy 50% of the output from DRI’s 126 MW Vacaresti solar project, which is set to begin construction in 2025.
John Stuart, CEO of DRI, stated that securing long-term PPAs is crucial for driving renewable energy growth and demonstrates that clean energy is a competitive alternative. He also noted that this agreement supports Romania’s energy transition and aligns with OMV Petrom’s strategic objectives.
Electricity generated by DRI’s projects that is not covered under the OMV Petrom PPA will be sold on the market through DTEK’s subsidiary, D.TRADING.
Currently, DRI’s portfolio in Romania totals 299 MW, including the country’s first wind farm built in over a decade. The company aims to reach 1 GW of renewable energy and battery storage capacity in Romania by 2030. Across its key markets, DRI’s total portfolio spans 1.3 GW of operational, under-construction, and development-stage projects, contributing to its broader goal of establishing a 5 GW renewable energy capacity.
