OMV Petrom, a subsidiary of Austrian oil company OMV, has agreed to acquire a solar portfolio of 710MW in Romania from Danish developer Jantzen Renewables.

Financial terms of the transaction were not divulged.

Helios 1 is a large project consisting of several smaller solar plants with a shared grid connection.

The project is one of south-eastern Europe’s most significant photovoltaic projects.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

It has already secured permission to be connected to Romania’s national electricity transmission network and is now seeking final building permit approvals.

The deal is expected to close in Q2 2024, when the projects reach the “ready-to-build” stage. They will begin commercial operations in 2026.

The cluster will set up its own primary transformer station linked to the 400kV overhead line.

The project will be built in Teleorman County. The selected sites offer a strong yield in terms of solar power.

The plants will generate 23,900 gigawatt-hours of clean energy and will have an operational period of 25 years, meeting the needs of 280,000 Romanian households annually.

OMV Petrom executive board member responsible for gas and power activity Franck Neel stated: “This purchase supports the achievement of OMV Petrom’s strategic objective of having an installed renewables capacity of at least 1GW by 2030, including through partnerships.

“In addition, it allows us to adequately respond to the ever-increasing demand for green energy, contributing at the same time to the strengthening of Romania’s security of supply and energy resilience.”

Jantzen Renewables co-founder and CEO Christian Jantzen stated: “The Helios 1 cluster is a great leap forward and further helps pave the way for a greener future for Romania.”