Romanian energy major OMV Petrom has marked its entry into the renewable energy sector by completing two strategic acquisitions.

The company has acquired a 50% stake in Electrocentrale Borzești from RNV Infrastructure, which includes projects with a capacity of almost 1GW, and additional assets from Renovatio Group with a capacity of 18MW.

Approved by the Competition Council and the Commission for the Examination of Foreign Direct Investments, the transactions align with OMV Petrom's strategy to diversify its energy portfolio.

The operational assets now under OMV Petrom's management include two wind farms in eastern Romania, with a combined capacity of 16MW, and a micro-hydro power plant in northwestern Romania with a capacity of 2MW.

OMV Petrom executive board member Franck Neel stated: "We are proud to announce that OMV Petrom has become a producer of renewable energy, as some of the assets that entered our portfolio are already producing and delivering renewable energy to the grid.” 

OMV Petrom will partner with RNV Infrastructure to develop the renewable energy projects in the northeast of Romania.

The wind farms are anticipated to commence production progressively between 2025 and 2027, while the photovoltaic project is currently undergoing production tests.

Renovatio CEO Aurel Arion commented: "We are pleased to announce the completion of our partnership with OMV Petrom. Our partnership reflects confidence in the potential of the Romanian renewable energy market and reconfirms our commitment to contribute to a more sustainable energy future."