OMV Petrom expands regional presence by participating in one of Bulgaria’s largest photovoltaic projects

OMV Petrom, the leading integrated energy producer in South-Eastern Europe, has teamed up with Enery for a significant photovoltaic project in Byala Slatina, near Sofia, Bulgaria.

Source: OMV Petrom

In this partnership, OMV Petrom has acquired 50% of the shares in Dunav Solar Plant EOOD from Enery Element, which is developing the Gabare photovoltaic project with an estimated installed capacity of around 400 MW. Additionally, there is an option to incorporate a battery energy storage system. Once operational, the PV park’s output could meet the annual electricity needs of approximately 150,000 Bulgarian households based on average consumption.

The transaction is anticipated to close in the latter half of 2025, pending the fulfillment of specific conditions.

Gabare Solar Park: A Landmark Renewable Energy Initiative in Bulgaria

Situated in Byala Slatina, close to Sofia, the Gabare solar park will feature a capacity of around 400 MW, utilizing solar tracking systems to maximize electricity generation by following the sun’s movement. Plans are also in place for a battery energy storage system with a potential capacity of up to 600 MWh.

By investing in one of the largest photovoltaic projects in Bulgaria, we are strengthening our presence on this neighbouring market and are supporting the region’s energy transition. We believe that natural gas and renewables complement each other and play a key role in reducing emissions while ensuring energy stability. We’re excited to be partnering with Enery, a company that brings deep expertise in renewable energy, as well as a shared commitment to building a more sustainable future. Their collaborative spirit and forward-looking approach make them an ideal partner as we move ahead with this important project. The investment framework also includes the acquisition by OMV Petrom of 50% of the electricity production from the project, through a power purchasing agreement (PPA) further reinforcing our commitment to securing low carbon and reliable energy.

^{Franck Neel, OMV Petrom Executive Board Member responsible for Gas & Power division}

All necessary construction permits and grid connections have already been secured. A final investment decision is expected by the end of 2025, with commercial operations projected to commence in 2027.

Through this collaboration, OMV Petrom and Enery aim to invest approximately €200 million by 2027, including external financing.