Jantzen Renewables has agreed to sell a 710 MW solar project in Romania to OMV Petrom. The Helios 1 cluster of photovoltaic parks will be capable of supplying 280,000 Romanian households with electricity. OMV Petrom, a fuel retailer, targets 1 GW of solar power capacity by 2030.
Construction of the Helios 1 solar park cluster, located in Romania’s southern Teleorman county, is expected to begin in the second quarter of 2024, according to a joint announcement. Christian Jantzen, Co-founder & CEO of Jantzen Renewables, described its as “a great leap forward” in Romania’s green energy future and “one of Southeast Europe’s most significant solar power projects.”
Helios 1 is projected to generate 23,900 GWh of electricity over 25 years
The estimated electricity output over 25 years of operation is 23,900 GWh. The proposed photovoltaic parks have already been granted access to the Romanian power grid, the press release adds.
Jantzen Renewables has over 2 GW of renewables projects in the pipeline in Romania
Jantzen Renewables is currently developing more than 2 GW in renewable energy projects across Romania, the two companies said.
Frank Neel, a member of the OMV Petrom Executive Board, said the acquisition of the Helios 1 photovoltaic project supports the company’s strategic objective of reaching 1 GW of installed solar capacity by 2030, including through partnerships.
OMV Petrom is present on the oil products retail market in Romania and neighboring countries through approximately 780 filling stations under two brands – OMV and Petrom. It has an oil refining capacity of 4.5 million tons annually, and it also operates an 860 MW high-efficiency power plant, according to the press release.
Romania has more large solar projects in pipeline
Two other major solar power projects have been announced in Romania this year. In February, local media reported that government-controlled Hidroelectrica was the most likely candidate to take over Europe’s biggest solar power project, of up to 1.5 GW, on Romanian state land.
In March, it was announced that the construction of a EUR 1 billion solar power plant, with an installed capacity of 1.04 GW and a 500 MW storage unit, was due to begin this summer.