Romanian state-owned coal-based electricity producer Energy Complex (EC) Oltenia and the largest oil and gas company in southeastern Europe OMV Petrom have agreed to invest 400 million euros in the construction of four solar power plants, with combined installed capacity of 450 MW.
According to the agreement, the power plants will be built on ash dumps of closed coalmines at Isalnita, Tismana, Rosia and Rovinari, with the start of construction expected soon. All four solar power plants should be commissioned in 2024. The two companies will hold equal stakes in the company that will build and operate the power plants.
Member of OMV Petrom’s Executive Board responsible for gas and electricity Franck Neel said that OMV plans to increase its electricity generation capacity from renewable sources to 1 GW by 2030, which also includes partnerships such as this one. He said that the construction of these four power plants will increase Romania’s solar installed capacity by a third.
In January 2022, the European Commission has approved the restructuring plan of EC Oltenia worth some 2.66 billion euros. The total value of the measures for the reorganization and transformation of EC Oltenia is close to 4 billion euros, if we the company’s own contribution of some 1.24 billion euros ia added to the sum.
According to the restructuring plan, about 711 million euros will be granted through the Modernization Fund, for the commissioning of 8 solar power plants with combined installed capacity of 725 MW, refurbishment and modernization of a 10 MW micro hydropower plant and the commissioning of a natural gas-fired electricity generation capacities – a unit of 475 MW at TPP Turceni, and 850 MW unit at TPP Isalnita.