Photo: U_hexsak7s6a from Pixabay
The new physical solar power purchase agreement between DRI, the renewables arm of Ukraine-based DTEK in the European Union, and OMV Petrom, is the largest ever in Romania. The deal is for 100 GWh of solar power.
OMV Petrom, the biggest integrated energy producer in Southeastern Europe, will offtake electricity from three photovoltaic plants for eight and a half years. It signed a physical power purchase agreement, PPA, with DRI. The subsidiary of Ukraine-based DTEK in the EU said it would deliver 100 GWh per year at a fixed price.
It is the largest physical PPA in Romania so far. The deal includes guarantees of origin, DRI revealed.
OMV Petrom is an oil and gas company introducing renewable energy with massive investments. It will purchase 62% of output from projects Glodeni 1 and Glodeni 2, with delivery starting in January 2026. The latter is scheduled to come online early next year. Their combined peak capacity is 113 MW.
Glodeni 1 was commissioned in early 2024.
From January 2027, OMV Petrom will purchase 50% of electricity produced in the Văcărești PV park in Dâmbovița county, according to the announcement. The project is for 126 MW in peak capacity and the start of construction is due next year. It will generate an estimated 205.8 GWh of electricity per year.
Rest of electricity goes to market
DTEK said is would sell the rest of the electricity into the market through its subsidiary D.Trading.
Securing long-term corporate offtake agreements is essential to facilitate renewable energy growth, and it demonstrates that clean energy offers a competitive alternative, said Chief Executive Officer of DRI John Stuart.
DRI has 299 MW in its portfolio in Romania, including the first wind farm built in the country in a decade. The company aims to deliver 1 GW of renewable energy and battery storage projects in Romania by 2030. Across its priority markets, DRI now boasts a 1.3 GW portfolio of operating projects and the ones under construction and under development. The firm said its 2030 goal is 5 GW.
Kommunalkredit Austria is financing Glodeni 2 photovoltaic project
The physical PPA deal was revealed just after DRI signed a EUR 24.7 million non-recourse financing agreement with Kommunalkredit Austria for Glodeni 2. The project is for 60 MW in peak capacity. DRI is managing the construction on its own.
The facility is right next to Glodeni 1, of 53 MW. Together they will be one of the largest solar parks in the country, according to DTEK.
It is DRI’s second financing arrangement with Kommunalkredit. Last year the lender provided the power producer with a EUR 55 million package for the Ruginoasa wind farm. It is located in Iași county.
DRI, headquartered in Amsterdam, said it aims to accelerate the energy transition in Central, Eastern and Southern Europe. It works in Romania, Italy, Poland, and Croatia. The company said its first solar park and wind farm in Romania are exporting power.
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