OMV Petrom closes the transaction with Jantzen Renewables for the acquisition of several photovoltaic projects in Romania

OMV Petrom closes the transaction with Jantzen Renewables for the acquisition of several photovoltaic projects in Romania

• The installed power of the photovoltaic parks will be ~710 MW

OMV Petrom, the largest integrated energy producer in Southeastern Europe, closed the acquisition of several photovoltaic projects from the Danish company Jantzen Renewables ApS. The projects are to be developed in Teleorman county and are now at the "ready-to-build" stage. The installed power of these photovoltaic parks will be ~710 MW, being among the most important projects of this type and development stage in Southeastern Europe.

The transaction was approved by the Commission for the Examination of Foreign Direct Investments.

Franck Neel, member of the OMV Petrom Executive Board, responsible for Gas and Power: "This acquisition marks a key step forward in OMV Petrom's firm commitment to develop a portfolio of around 2.5 GW of installed renewable energy capacity by 2030, capitalizing on strategic partnerships. We want to meet the increase in demand for green energy and remain a reliable partner for our customers, also contributing to the security of Romania's energy supply. Our next step is to identify the right partners with whom to build these projects."

Christian Jantzen, Co-founder & CEO of Jantzen Renewables: "Today is truly a major milestone for Jantzen Renewables, for our partners and for the Romanian energy sector. We are proud to significantly contribute to a greener future in Romania. Our mission is to power the country's green energy transition, and this is a vital first step for us in achieving that vision. However, this is only the beginning, and we will continue to put significant resources into our mission in the coming years."

The photovoltaic parks will be built in Teleorman county, the locations chosen for these having the potential for superior solar yields. Thus, the estimated production for 25 years of operation is over 20,000 GWh, the annual production being enough to supply the equivalent of approximately 70% of the annual household consumption of Bucharest municipality1. The projects have already been granted access to the national power transmission grid. According to current estimates, the projects should start to supply power to the national power grid in the second half of 2026.

¹ Based on 2023 data from the MAP OF ELECTRICITY CONSUMPTION AND PRODUCTION IN ROMANIA (ELECTRICITY MAP) - Energy Map